7147 Russell Avenue, Burnaby

$ 1,790,000 BURNABY CITY Other FEATURED FOR SALE
Great Investment Property!! M4 Zoned 2 Level Warehouse Building with over 4.1% Cap Rate near Metrotown, with 2,509 SQ FT of Warehouse/Office Space on main level, 867 SQ FT of Office Space
  • Address:
    7147 Russell Avenue, Burnaby
  • MLS® Number: C8022444
  • Listed By: RE/Max Central Realty

Property Description

Great Investment Property!! M4 Zoned 2 Level Warehouse Building with over 4.1% Cap Rate near Metrotown, with 2,509 SQ FT of Warehouse/Office Space on main level, 867 SQ FT of Office Space on the Second level and additional Storage Space of 151 SQ FT, on a 5,297 SQ FT Property ! The Building is currently Leased out to an Automotive Repair Shop for $5,500/MO NNN for 5 Years + 5 Year Renewal, Lease commenced September 2018, with 1.8% Escalations every Year! Gross Property Taxes including Utilities is $14,712.50 for 2018. There is a second Tenant Upstairs Leasing 1 Large Office Space for $700/MO Gross including Utilities! Currently, there is 200 Amp Single Phase Power in the Building, however Power can be Upgraded to 3 Phase at a reasonable cost. The Fixtured Auto Repair Tools in the Automotive Repair Shop must be purchased for an additional $50,000.