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$ 3,400,000
Est. payment /mo
New
1455 Ellis Street Kelowna, BC V1Y2A3
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Kelowna North
MLS® Listing ID 10398033
Property Description
Rare opportunity to acquire a fully leased commercial investment property in the heart of Downtown Kelowna. 1455 Ellis Street is a well-maintained, two-storey commercial building comprising approximately 12,192 SF on a 0.17-acre site, with a diversified mix of retail, professional service and office tenants. The property is 100% leased and generates approximately $157,785 in current annualized base rent, plus applicable additional rent and recoveries. The largest tenant occupies the entire 6,156 SF second floor, with an executed replacement lease commencing May 2028 that increases base rent from $11.00/SF to $14.00/SF, followed by contractual annual increases. Long-term retail tenancy includes Marble Slab Creamery, with additional scheduled rental growth across the rent roll. The building has benefited from substantial investment, including second-floor renovations, tenant improvements, furnace, HVAC, electrical and security upgrades, increased plumbing capacity and ongoing elevator maintenance. Four on-site parking stalls. UC1 Downtown Urban Centre zoning provides long-term redevelopment potential in addition to current investment income. 2026 BC Assessment: $2,910,000. Offering Price: $3,400,000. Confidential financial package available upon execution of NDA. (id:24570)
Location
Province BC
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Listed by Macdonald Realty
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