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418 Yellowhead Hwy 10,488 SF Retail Building Burns Lake, BC V0J 1E0 $1,859,000 CAD ($177.25 CAD/SF) 7.07% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased portfolio with national pharmacy anchors
- Strong WALT of 5.14 years across all assets
- Limited local competition in underserved secondary markets
- 91.4% of base rent secured by Rexall, IDA, and Shoppers
- Located in high-visibility downtown commercial districts
- Recent renovations and ongoing maintenance completed
EXECUTIVE SUMMARY
Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) is pleased to present the opportunity to purchase a 100% freehold interest in a Portfolio of three (3) pharmacy-anchored retail assets across British Columbia and Alberta (the “Portfolio”). The Portfolio is anchored by a roster of Canada’s largest pharmacy operators including Rexall, Rx Drug Mart I.D.A. (Neighbourly Pharmacy), and Shoppers Drug Mart, encompassing 91.4% of Portfolio base rent and a pharmacy weighted average lease term of 5.5 years. This necessitybased Portfolio is located in the stable secondary markets of Port Hardy, Burns Lake, and Westlock, with limited pharmacy competition in the immediate area and excellent exposure in each respective markets commercial core. The Vendor will assess offers on a Portfolio basis or as individual assets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,488 SF
Building Class
C
Year Built/Renovated
1978/2015
Price
$1,859,000 CAD
Price Per SF
$177.25 CAD
Cap Rate
7.07%
NOI
$131,431 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
0.91 AC
Zoning
C1 - Central Business District
Parking
20 Spaces (1.9 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Signage
NEARBY MAJOR RETAILERS
(604) 628-4331
x4331
CONTACTS
-
Brodie Henrichsen -
Kevin Douglas -
Colton Zayshley -
Adam Kilburn -
Andrew Simpson -
JLL
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418 Yellowhead Hwy
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