498 ELLIS STREET No City Value, BC
$ 3,274,800
Property Attributes
  • ML#C8037209
  • TypeCommercial
  • CityNo City Value
  • Postal CodeV2A 4M2
  • Style
  • Price$ 3,274,800
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage15254
  • Lot Size0.41 Acres
Listing Provided Courtesy Of:
Faith Wilson Group
Data Source:
Canadian Real Estate Association
Property Description

The W. C. Parker Building is one of Penticton's most iconic office buildings. Located in the heart of the professional district, it is fully occupied by a major accounting firm, a law office & a corporate office which are housed on the 1st & 2nd floors of the building. Downstairs there are 7 small offices & are fully occupied by a variety of tenants, either on leases or on mo. to mo. tenancies. The building has a total of 15,254 sq. ft. on the 3 floors with the lot being .172 ac. The huge bonus in this package is the .241 ac. paved parking lot across the rear lane with 33 stalls. Together, the total land size is .413 ac. or 17,990 sq.ft. C5 zoning allows for a wide variety of redevelopment options for the parking lot. Most obvious is to do a 2 level parkade with several floors of condos above. If you remove the parking lot revenue & expenses, the building shows a Cap Rate of 5% on its own. The whole package of the building & parking lot shows a 4.15% Cap Rate for the 2021 budget. (id:7434)

General Features

More Information Link
Property Type Office
Zoning Description C5

Interior Features

Building Fireplace Present False


  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Postal Code Average in V2A 4M2

AVG $3.27M
Year Built
AVG 1960

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