Industrial home located in Duncan
MLS #1021704
Listed by Coldwell Banker Oceanside Real Estate
- Type: Commercial Sale
- Exterior Features: Display Window, Lighting, Low Maintenance Yard, Sign: Allowed, Sign: Dir Brd, Sign: Lighted, Storefront,
- Cooling: HVAC,
- Heating: Heat Pump, Mixed,
- Foundation Details: Slab,
- Lot Size: 0.5 acres
- Parking Features: On Site,
- Features: Central Location, Cleared, Corner Lot, Easy Access, Family-Oriented Neighbourhood, Landscaped, Level, Recreation Nearby, Serviced, Shopping Nearby,
- Zoning: C1(General Commercial)
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.