Exceptionally well-located investment property, in the heart of the Rock Bay Industrial District. 322 John Street is a versatile 10,465 SF building on a 16,765 SF secured lot with lots of parking. Centrally located with excellent vehicular access to Greater Victoria and all major highways. The current owners have taken great care of the building. There is a long term, Class AAA tenant in place by the name of Westburne Electric, owned by parent company Rexel Canada since 1926. Westburne is a nationwide leader in lighting and energy solutions. The tenant is currently paying “below market” rents, which gives an in-coming investor a great opportunity to increase the revenue on the building by 25% within the next two (2) years. The opportunity is to purchase an exceptionally well-located and cared-for industrial warehouse in the heart of midtown Victoria, with a solid Class AAA tenant in place and the bonus of being able to roll up rents by approximately 25% within the next two (2) years.
Address
322 John St
List Price
$4,475,000
Property Type
Commercial Sale
Type of Dwelling
Industrial
Transaction Type
sale
Area
Victoria
Sub-Area
Vi Rock Bay
Lot Size
16684 Sq. Ft.
Lot Size (Acres)
0.38 Ac.
MLS® Number
1005050
Listing Brokerage
Royal LePage Coast Capital - Chatterton
Postal Code
V8T 1T3
Tax Amount
$71,863.54
Tax Year
2024