Courtesy of Coldwell Banker Oceanside Real Estate
Diversified income producing property listed at a 7.5% capitalization rate. Listed below the recently appraised value of $3,345,000 (Cunningham & Rivard, Feb.12,2021). The property offers commercial retail and marina exposure with one small residential unit. The approximate 7,500 sqft retail space is fully leased and has long term anchor tenants, True Grain Bread and Classic Marine. The Marina (1,150 linear ft) focuses on long term tenants providing ease on management and a steady income. The property has a long track record of full occupancy with a waiting list for moorage (moorage vacancy +/- 1%). Recent upgrades and renovations have improved this property while maintaining its historic charm and appealing character. Located in Southern Vancouver Island, Cowichan Bay is the core tourism area in the Cowichan Valley and is very popular with local residents. This offering provides exceptional income, ease of management, a long term track record of high occupancy and a great location.