617 STAMPS LANDING, Vancouver, BC
I just finished uploading this Commercial for sale, 617 STAMPS LANDING, Vancouver, BC
Waterfront fantastic investment property in False Creek with 6% cap rate!!! Current restaurant tenant has 10 year lease + 5 year renewal option, from April 1st 2009 to March 31st 2014 the investment brings net income of $270,000. From April 1st 2014 to March 31st, 2019 (with 10% rent increase every 5 years) nets $297,000! This Leasehold property has approximately 28 year lease remaining. In 28 years there is a minimum earning potential of approximately 2 million dollars!!! At the end of the lease the City has to pay to the owner MARKET VALUE of the property or renew the lease! It is a fantastic opportunity. Please do not disturb tenant.