Vacant-User
2230 Cliffe Ave
2230 Cliffe Ave, Courtenay, BC V9N 2L4
Listing Price: $4,660,000
Investment Overview
The Vendor has exclusively retained Marcus & Millichap REIS to facilitate the sale of its 100%
interest in Strata Lot 3 - 2230 Cliffe Avenue located in Courtenay, B.C. The property features a
triple-net investment opportunity consisting of a freestanding building, situated on stratified
land, leased to four retail tenants including a Popeyes drive-thru.
2230 Cliffe Ave
Investment Highlights
- NNN lease with built in rental escalations
- Rarely available offering anchored by a Popeyes drive-thru, and tenanted by Papa John's, Vape Street, and Burger Factory
- Prime exposure along Cliffe Avenue / Highway 19A (>10,500 VPD), the arterial route servicing Nanaimo and its nearby communities.
- Income underpinned by secure long-term leases (9.8 year weighted average lease term remaining) with renewal options thereafter.
- 2270 Cliffe Avenue, adjacent to the Subject Property, submitted a development application in late 2023 for a six-storey mixed use project outlining 11 CRUs and 140 residential units.
- Ample parking on the Subject Property and across the common property. The parking on the common property is governed by a favourable easement allowing shared parking across the entire parcel (common property and limited common property). A 75% vote is required for any changes to the strata.
Exclusively Listed By
Listing Price: $4,660,000
Investment Highlights
- NNN lease with built in rental escalations
- Rarely available offering anchored by a Popeyes drive-thru, and tenanted by Papa John's, Vape Street, and Burger Factory
- Prime exposure along Cliffe Avenue / Highway 19A (>10,500 VPD), the arterial route servicing Nanaimo and its nearby communities.
- Income underpinned by secure long-term leases (9.8 year weighted average lease term remaining) with renewal options thereafter.
- 2270 Cliffe Avenue, adjacent to the Subject Property, submitted a development application in late 2023 for a six-storey mixed use project outlining 11 CRUs and 140 residential units.
- Ample parking on the Subject Property and across the common property. The parking on the common property is governed by a favourable easement allowing shared parking across the entire parcel (common property and limited common property). A 75% vote is required for any changes to the strata.
Investment Overview
The Vendor has exclusively retained Marcus & Millichap REIS to facilitate the sale of its 100% interest in Strata Lot 3 - 2230 Cliffe Avenue located in Courtenay, B.C. The property features a triple-net investment opportunity consisting of a freestanding building, situated on stratified land, leased to four retail tenants including a Popeyes drive-thru.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
