Single-Tenant Financial Institution | For Sale

2219 Oak Bay Avenue, Victoria, BC Canada

$3,880,000

Price

3,541 sqft

Building Size

0.09 acres

Lot Area

Overview
Building Size
3,541 sqft
Lot Area
0.09 acres
Built/Renovated
1952/1979, 1999, 2008
Zoning
C-3 Zone
Description

Form Retail Advisors is pleased to announce the sale offering of 2219 Oak Bay Avenue located in Victoria, BC (the “Subject Property”). The Subject Property is a 3,541 square foot, single story BMO bank branch located in greater Victoria’s highly affluent Oak Bay area.

Tenant Highlights:
• One of the Big Five Banks in Canada, The Bank of Montreal is a highly diversified financial services provider with assets totaling $710 billion, a market cap of $62.37B (March, 2018) and employment of over 45,000 employees.
• BMO ranks as Canada’s fourth largest bank, serving customers through personal, business, public sector and institutional offices in Canada, the United States and 12 countries internationally.

Highlights
  • Single-tenant financial institution secured by The Bank of Montreal (BMO) on a carefree, fully net, lease with term remaining until 2031.
  • Secure income stream with built-in rent escalations every year for the balance of the term.
  • Strategically positioned along the main commercial arterial roadway serving the highly affluent Oak Bay municipality.
  • The Subject Property occupies a central position along Oak Bay’s high street stretching from Haynes Park to Foul Bay Road providing a direct link to Downtown Victoria.
  • Oak Bay Avenue is a unique village-style retail promenade offering a boutique shopping experience that features a wide variety of local, regional and national retailers including Pharmasave, Starbucks and numerous Canadian financial institutions.
  • Excellent street-front exposure with ~40 feet of frontage along Oak Bay Avenue with free parking available along the north boundary of the Property.
  • Strong corporate covenant: The Bank of Montreal is Canada’s fourth largest bank by total assets and has a market cap of $62.37B (March, 2018).
Documents
Title
Offering Memorandum
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Location
Gallery