Downtown Mixed-Use Building
1205 3rd Ave, Prince George
Sold for $1,300,000
DETAILS
Sale Price · $1,300,000
Address · 1205 3rd Ave, Prince George
Cap Rate · 6.13%
Price Per Rentable Sq Ft · $171
Price Per Gross Building Sq Ft · $133
Commercial Units · 3 Retail Units Totalling 5,430 Sq Ft
Residential Units · 3 Units (2 x 2-Bedroom, 1 x Studio)
Parking · Street Parking
Year Built · 1948
Year Renovated · 2016/17
Zoning · C-1
Rentable Area · 7,575 sq ft
Gross Building Area · 9,765 sq ft
Lot Size · 3,300 sq ft
DESCRIPTION
Sold for full asking price! Rarely will you find a such a location and renovation at such an attainable price point. This fully updated mixed-use building is located at the corner of 3rd Avenue and Dominion St in the heart of downtown Prince George.
Built like a WWII bunker in 1948, the entire building was renovated in 2016/17. Everything has been updated - electrical, mechanical, roof, windows, and interiors. As a result, the asset is in exceptionally good condition and will provide stable income for decades.
Prince George is a growing regional centre with a diverse economy including health care, retail, manufacturing, construction, natural gas, mining, forestry, education and much more. Learn more about the Prince George economy and population.
HIGHLIGHTS
Location on a busy downtown corner with lots of foot traffic and car parking means the building stays full.
A complete renovation in 2016/17 means that there’s low operating expenses and decades of stable income to come.
Cap rate of 6.13% and strong yield. Assistance with appraisal and financing was available.
PROPERTY IDENTIFICATION
Civic Address
1205 3rd Ave, Prince George, BC, V2L 3E6
Legal Description
Lot 10 Block 133 Plan PGP1268 District Lot 343 Land District 05
PID
013-023-284
Property Taxes
$12,331.37 (2021)