7147 Russell Avenue, Burnaby

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 the 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.