Vacant-User
6639 Sooke Road, Sooke, BC
6639 Sooke Rd, Sooke, BC V9Z 0A3
Listing Price: $3,090,000
Investment Overview
The Vendor has exclusively engaged Marcus & Millichap REIS to market its 100% freehold interest in 6639 Sooke Road, Sooke, British Columbia (the "Subject Property"). The Subject Property is a single-tenant bank branch fully leased to Royal Bank of Canada (RBC) on a triple-net (NNN) basis, providing investors with a strong national corporate covenant and minimal landlord responsibilities. Current in-place rents sit notably below prevailing market rates, presenting investors with a clear path to enhanced yield upon renewal. Situated along Sooke Road (Highway 14), a primary arterial corridor connecting Sooke to Greater Victoria, the property commands excellent visibility and accessibility within an established retail node anchored by essential daily-needs tenants. The offering presents a rare opportunity to acquire a passive, income-producing asset underpinned by one of Canada's most creditworthy tenants.
6639 Sooke Road, Sooke, BC
Investment Highlights
- Current rents sit approximately 33% below market, presenting future upside potential upon lease renewal or expiry.
- The Subject Property is 100% leased on a triple-net (NNN) basis, placing all operating costs with the tenant and delivering a fully passive income stream with minimal landlord responsibilities.
- The Subject Property is held in a bare trust, providing purchasers with the option to acquire shares of the nominee corporation, potentially resulting in savings on property transfer tax.
- Sooke's population has increased by 15.6% since 2020 and is projected to grow an additional 13.5% by 2030, supporting long-term demand for essential services.
- The property provides 4.6 stalls per 1,000 SF of rentable area at a site coverage ratio of 22%, offering customers convenient and accessible parking.
- The Subject Property benefits from 105 feet of direct frontage onto Sooke Road (Highway 14), carrying 16,500 vehicles per day and serving as the primary arterial corridor connecting Sooke to Greater Victoria. The site offers strong visibility and convenient access for the surrounding trade area
- The Subject Property is situated within Sooke's primary commercial corridor, anchored by Evergreen Centre and surrounded by national and daily-needs retailers including Village Food Markets. The concentration of essential retail in the immediate vicinity drives consistent consumer traffic and reinforces the site's long-term relevance within the trade area.
Exclusively Listed By
Listing Price: $3,090,000
Investment Highlights
- Current rents sit approximately 33% below market, presenting future upside potential upon lease renewal or expiry.
- The Subject Property is 100% leased on a triple-net (NNN) basis, placing all operating costs with the tenant and delivering a fully passive income stream with minimal landlord responsibilities.
- The Subject Property is held in a bare trust, providing purchasers with the option to acquire shares of the nominee corporation, potentially resulting in savings on property transfer tax.
- Sooke's population has increased by 15.6% since 2020 and is projected to grow an additional 13.5% by 2030, supporting long-term demand for essential services.
- The property provides 4.6 stalls per 1,000 SF of rentable area at a site coverage ratio of 22%, offering customers convenient and accessible parking.
- The Subject Property benefits from 105 feet of direct frontage onto Sooke Road (Highway 14), carrying 16,500 vehicles per day and serving as the primary arterial corridor connecting Sooke to Greater Victoria. The site offers strong visibility and convenient access for the surrounding trade area
- The Subject Property is situated within Sooke's primary commercial corridor, anchored by Evergreen Centre and surrounded by national and daily-needs retailers including Village Food Markets. The concentration of essential retail in the immediate vicinity drives consistent consumer traffic and reinforces the site's long-term relevance within the trade area.
Investment Overview
The Vendor has exclusively engaged Marcus & Millichap REIS to market its 100% freehold interest in 6639 Sooke Road, Sooke, British Columbia (the "Subject Property"). The Subject Property is a single-tenant bank branch fully leased to Royal Bank of Canada (RBC) on a triple-net (NNN) basis, providing investors with a strong national corporate covenant and minimal landlord responsibilities. Current in-place rents sit notably below prevailing market rates, presenting investors with a clear path to enhanced yield upon renewal. Situated along Sooke Road (Highway 14), a primary arterial corridor connecting Sooke to Greater Victoria, the property commands excellent visibility and accessibility within an established retail node anchored by essential daily-needs tenants. The offering presents a rare opportunity to acquire a passive, income-producing asset underpinned by one of Canada's most creditworthy tenants.
Exclusively Listed By
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