Bought with Gillian Lowe eXp Realty (DU)
$1,180,000
$1,100,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
199 Kenvir Rd Lake Cowichan, BC V0R 2G0
3,478 SqFt
Key Details
Sold Price $1,180,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,478 sqft
Price per Sqft $339
MLS Listing ID 1021704
Annual Tax Amount $12,139
Tax Year 2025
Lot Size 0.500 Acres
Property Sub-Type Industrial
Property Description
Exceptional opportunity to acquire the land and building of a long-term, successful auto repair and tire shop. This offering features a stabilized capitalization rate of 6.20% (based on a tenant paying $18 per sq ft NNN for the building and $1 per sq ft NNN for approx. 10,000 sq ft of exterior storage area). A prospective buyer can continue the current use, but the building also has potential for other uses under permitted zoning (C1 General Commercial Zone). The seller is willing to include equipment and inventory for additional consideration. Lake Cowichan is a thriving lakeside community with easy access to Duncan and S. Vancouver Island. Phase 1 & 2 reports available as of August 29, 2025. Recent upgrades include a new heat pump and improvements to both the exterior and interior. DO NOT APPROACH OWNER OR STAFF REGARDING THIS LISTING. Buyer to rely on their own due diligence regarding value. The owner appreciates the community's decades of support and looks forward to retirement.
Location
Province BC
County Cowichan Valley Regional District
Community Du Lake Cowichan
Area Duncan
Zoning C1(General Commercial)
Interior
Heating Heat Pump, Mixed
Cooling HVAC
Flooring Mixed
Exterior
Exterior Feature Display Window, Lighting, Low Maintenance Yard, Sign: Allowed, Sign: Dir Brd, Sign: Lighted, Storefront
Parking Features On Site
View Y/N false
Building
Lot Description Central Location, Cleared, Corner Lot, Easy Access, Family-Oriented Neighbourhood, Landscaped, Level, Recreation Nearby, Serviced, Shopping Nearby
Foundation Slab
Sewer Sewer Connected
Water Municipal
Read Less
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