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270 Hudson NE ave 9,544 SF Retail Building Salmon Arm, BC V1E 3B8 $2,599,000 CAD ($272.32 CAD/SF) 6.87% Cap Rate
INVESTMENT HIGHLIGHTS
- Amenity-rich and central location in Downtown Salmon Arm, at the crossroads of Hudson Avenue Northeast and Ross Street Northeast
- Care-free triple net lease structure with multiple rental rate escalations remaining.
EXECUTIVE SUMMARY
The Offering:
Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) has been retained on an exclusive basis to arrange the sale of a 100% freehold interest in 3 contiguous retail strata units at #1,2,3 – 270 Hudson Avenue Northeast (the “Property” and/or “Offering”). The Offering represents a rare opportunity to acquire 9,544 sf of centrally located strata retail area on a long-term triple-net lease to one of Canada’s largest community-focused pharmacy operators, Neighbourly Pharmacy.
Investment Highlights:
• Amenity-rich and central location in Downtown Salmon Arm, at the crossroads of Hudson Avenue Northeast and Ross Street Northeast
• Attractive WALT of 10.8 years (as of April 1, 2025) to a Pharmasave banner owned by Neighbourly Pharmacy, Canada’s largest community-focused pharmacy operator with over 290 locations across Canada
• Care-free triple net lease structure with multiple rental rate escalations remaining.
Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) has been retained on an exclusive basis to arrange the sale of a 100% freehold interest in 3 contiguous retail strata units at #1,2,3 – 270 Hudson Avenue Northeast (the “Property” and/or “Offering”). The Offering represents a rare opportunity to acquire 9,544 sf of centrally located strata retail area on a long-term triple-net lease to one of Canada’s largest community-focused pharmacy operators, Neighbourly Pharmacy.
Investment Highlights:
• Amenity-rich and central location in Downtown Salmon Arm, at the crossroads of Hudson Avenue Northeast and Ross Street Northeast
• Attractive WALT of 10.8 years (as of April 1, 2025) to a Pharmasave banner owned by Neighbourly Pharmacy, Canada’s largest community-focused pharmacy operator with over 290 locations across Canada
• Care-free triple net lease structure with multiple rental rate escalations remaining.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,544 SF
Year Built
2000
Price
$2,599,000 CAD
Price Per SF
$272.32 CAD
Cap Rate
6.87%
NOI
$178,551 CAD
Tenancy
Single
Building Height
2 Stories
Walk Score®
Very Walkable (86)
NEARBY MAJOR RETAILERS
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270 Hudson NE ave
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