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Office

FULLY LEASED OFFICE BUILDING LOCATED IN SAANICH CORE

1001 Cloverdale Ave, Victoria, BC V8X 4C9

Listing Price: $8,850,000

Cap Rate
5.67%
Gross SF
23,151
Rentable SF
23,151
Price/Gross SF
$382.27
Lot Size
0.71 acres
Year Built
1976

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 1001 Cloverdale Avenue, Saanich, B.C. (the “Subject Property”). The Subject Property represents an opportunity to secure a three-storey, income-producing office building, conveniently located in the periphery of the Saanich Core neighbourhood. Professionally managed, well maintained, and continuously updated & renovated, the asset represents a stable investment secured by a diverse tenant base in a rapidly growing region that is positioned in the heart of the Capital Region.

Investment Highlights

  • 100% leased, three-storey, 23,151 SF office building with access to 85 parking stalls (3.67 per 1,000 SF)
  • Stable and secure rental income generated from a diverse mix of 12 tenants
  • Property sits within the Saanich Core neighbourhood, just east of the council approved Uptown Douglas Plan, which supports high-density multifamily and commercial development
  • Positioned near the 'Four Corners' intersection of Cook Street, Quadra Street and Cloverdale Avenue, the Subject Property is centrally located with easy access to Hwy 1 (Douglas Street) and Hwy 17 (Blanshard Street)
  • Originally built in 1976, the property underwent a major renovation in 1993 which included the addition of a third floor and elevator installed at the same time. The common hallways have also been renovated and the building exterior was painted in 2020

Exclusively Listed By

Office

FULLY LEASED OFFICE BUILDING LOCATED IN SAANICH CORE

Listing Price: $8,850,000

Cap Rate
5.67%
Gross SF
23,151
Rentable SF
23,151
Price/Gross SF
$382.27
Lot Size
0.71 acres
Year Built
1976

Investment Highlights

  • 100% leased, three-storey, 23,151 SF office building with access to 85 parking stalls (3.67 per 1,000 SF)
  • Stable and secure rental income generated from a diverse mix of 12 tenants
  • Property sits within the Saanich Core neighbourhood, just east of the council approved Uptown Douglas Plan, which supports high-density multifamily and commercial development
  • Positioned near the 'Four Corners' intersection of Cook Street, Quadra Street and Cloverdale Avenue, the Subject Property is centrally located with easy access to Hwy 1 (Douglas Street) and Hwy 17 (Blanshard Street)
  • Originally built in 1976, the property underwent a major renovation in 1993 which included the addition of a third floor and elevator installed at the same time. The common hallways have also been renovated and the building exterior was painted in 2020

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 1001 Cloverdale Avenue, Saanich, B.C. (the “Subject Property”). The Subject Property represents an opportunity to secure a three-storey, income-producing office building, conveniently located in the periphery of the Saanich Core neighbourhood. Professionally managed, well maintained, and continuously updated & renovated, the asset represents a stable investment secured by a diverse tenant base in a rapidly growing region that is positioned in the heart of the Capital Region.

Exclusively Listed By

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