Investment Property Opportunity! Purchase this fully leased building showing a great annual return of $102,000.00 with a Cap rate over 5% at the asking price. With a 5-year lease & options to renew lasting until 2043.
The building is situated in Nanaimo’s Vibrant Old City Quarter area and is occupied by one of the city’s most popular award-winning restaurants “Asteras Greek Taverna.” The building was raised and renovated in 1996 with further renovations in 2008 to its current operation. There is a 2-bedroom, 2-bathroom apartment on the top floor which is rented month to month. The building is set back on the lot allowing parking in the front and on the street. The 2-level building is +/- 3405 square feet in size plus a basement storage area. The owner states the roof is newer and is a hands-off operation. “Please do not disturb the tenant and business operation!” Call for further details and information. All measurements and data is approximate and to be verified if important.

Listed by RE/MAX of Nanaimo.

Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Jahelka Real Estate Group for your convenience.

Disclaimer: This representation is based in whole or in part on data generated by the VIREB Vancouver Island Real Estate Board which assumes no responsibility for its accuracy. Trademark owned or controlled by The Canadian Real Estate Association. Used under license.