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Plaza 33 195 Highway 33 W 85,128 SF 100% Leased Retail Building Kelowna, BC $37,500,000 CAD ($440.51 CAD/SF) 5.54% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Opportunity to acquire multi tenant building with strong cash flow and future redevelopment potential
  • More than 85% leased to AAA National & Regional tenants
  • Ample outdoor surface parking and pylon signage
  • City of Kelowna's 2040 OCP policy guidance outlines 12 storey building at this site
  • Excellent visibility on Hwy33, main access to the Big White Ski Resort, Frontage 825’ on Hwy 33, return depth 260’

EXECUTIVE SUMMARY

Plaza 33, a well-established, income-producing shopping centre strategically located along Highway 33 in Kelowna, BC. This highly visible and accessible property serves as a key commercial hub for Rutland. Over 85% of the leasable area is occupied by AAA national and regional tenants, including Save-on-Foods, Shoppers Drug Mart, TD Bank, RBC, Pizza Hut, Hub Insurance, Dynacare Valley Medical Lab and the Okanagan Regional Library. This exceptional tenant mix ensures stable, diversified income and minimal vacancy risk. In addition to its strong cash flow, Plaza 33 offers significant long-term upside. The City of Kelowna’s OCP 2040 supports the development of a twelve-storey building on the site, providing excellent potential for future redevelopment and capital appreciation.

ATTACHMENTS

Brochure

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Building Size
85,128 SF
Building Class
C
Year Built
1970
Price
$37,500,000 CAD
Price Per SF
$440.51 CAD
Cap Rate
5.54%
NOI
$2,076,455 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
4.93 AC
Zoning
UC4 - Urban Centres are the City’s largest activity hubs. They are characterized by the largest concentration of commercial and employment uses in the city.
Parking
298 Spaces (3.5 Spaces per 1,000 SF Leased)
Frontage
825’ on Highway 33W

AMENITIES

  • Pylon Sign
  • Signage
  • Enclosed Mall
  • Storage Space

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Dynacare Valley Medical Lab
  • Health Care and Social Assistance
  • 2,990 SF
  • -
  • Triple Net
  • -
  • Hub International
  • Finance and Insurance
  • 2,200 SF
  • -
  • -
  • -
  • Okanagan Regional Library
  • Services
  • 10,809 SF
  • -
  • -
  • -
  • Pizza Hut
  • Retailer
  • 1,410 SF
  • -
  • -
  • -
  • Finance and Insurance
  • 7,470 SF
  • -
  • -
  • -

Royal Bank of Canada is one of Canada's biggest banks, and among the largest in the world based on market capitalization. They serve clients in Canada, the U.S. and several other countries. They are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. They are on a purpose-driven journey to build the RBC of the future and reimagine the role they play in the lives of their customers. Their purpose inspires them every day to bring their best and use their imagination and insights to build a better future for their clients and communities.

  • Retailer
  • 30,390 SF
  • -
  • -
  • -

At Save-On-Foods, going the extra mile is nothing new. Actually, they've gone above and beyond in all areas of their business since they started, way back in 1915. Originally, they were called Overwaitea Food Group because of the founder’s practice of selling 18 ounces of tea for the price of 16, and the name “overweight tea” stuck. Fast forward over 100 years and that name has changed, but they're still known for delivering extra value to their customers. Today their company is best known for its most prominent banner—Save-On-Foods—but also includes PriceSmart Foods, Urban Fare and Bulkley Valley Wholesale. Save-On-Foods is known for customizing its stores to best suit the needs of the neighborhoods in which they operate. In each community, they listen to locals and provide the services they’re looking for. Save-On-Foods supports Western Canadian food producers by carrying many locally-made products from many local growers and producers.

  • Shoppers Drug Mart
  • Retailer
  • 13,812 SF
  • -
  • -
  • -
  • Finance and Insurance
  • 4,202 SF
  • -
  • -
  • -

TD Canada Trust is TD Bank Group's customer-focused personal and small business banking business. Serving millions of customers nationally, TD Canada Trust provides a full range of financial products and services through its retail branch network, mobile app, telephone, Internet banking, and ‘TD Green Machine’ automated banking machines. As a top North American bank, TD aims to stand out from its peers by having a differentiated brand – anchored in their proven business model, and rooted in a desire to give customers, communities and colleagues the confidence to thrive in a changing world. The TD Framework embodies culture and guides behavior as they execute on their business strategy of being a premier Canadian retail bank, a top U.S. retail bank, and a leading Wholesale business aligned with their retail franchise.

  • Veerji Fish & Grill
  • Retailer
  • 1,554 SF
  • -
  • -
  • -
  • WCG International Consultants
  • Administrative and Support Services
  • 1,929 SF
  • -
  • -
  • -
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Dynacare Valley Medical Lab Health Care and Social Assistance 2,990 SF - Triple Net -
Hub International Finance and Insurance 2,200 SF - - -
Okanagan Regional Library Services 10,809 SF - - -
Pizza Hut Retailer 1,410 SF - - -
Finance and Insurance 7,470 SF - - -
Retailer 30,390 SF - - -
Shoppers Drug Mart Retailer 13,812 SF - - -
Finance and Insurance 4,202 SF - - -
Veerji Fish & Grill Retailer 1,554 SF - - -
WCG International Consultants Administrative and Support Services 1,929 SF - - -
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

Scotiabank
IGA
Starbucks
Tim Hortons
Taco Time
Sunbelt Rentals
Toyota
  • Listing ID: 32677777

  • Date on Market: 2024-08-03

  • Last Updated:

  • Address: 195 Highway 33 W, Kelowna, BC

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