Grocery and Liquor Anchored Investment Opportunity

559, 559A, 575 & 583 Old Hope Princeton Way, Hope, BC Canada

$9,280,000

Price

4.37%

Cap Rate

$405,738

NOI

Overview
Cap Rate
4.37%
NOI
$405,738
Building Size
28,900 sqft
Lot Area
110,405 sqft
Year Built
1996/2002
Zoning
C-3 (Regional Commercial)
Description

The Vendor has exclusively retained Form Retail Advisors Inc. (the “Agent”) to facilitate the sale of its 100% freehold interest in 559, 559A, 575 & 583 Old Hope Princeton Way, located in the district municipality of Hope, BC (the “Subject Property”).

The Subject Property is a grocery and liquor anchored investment opportunity at the confluence of major Highways 3,5,7 and Highway 1 (Trans-Canada) which connects British Columbia east to west and north to south.

Highlights
  • Save-on-Foods, owned by the Overwaitea Food Group which is a subsidiary of the Jim Pattison Group (revenue of $9.6 Billion in 2016 (BC Business)), current lease term runs until May 2026
  • Secure and stable income with Save-on-Foods and Chevron (land lease for Future Car Wash) accounting for 82% of the base rental revenue
  • Undeveloped vacant land offers ability for additional retail development, can accomodate a drive-thru
  • Long-term tenant leases with Weighted Average Lease to Expiry (WALE) of 7.9 years
Documents
Title
Offering Memorandum
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Location
Gallery