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4501 31 St 7,708 SF 100% Leased Office Building Vernon, BC V1T 5J8 $3,160,000 CAD ($409.96 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Industrial and commercial land in Vernon trades at a meaningful discount to Kelowna and other Okanagan centres.
- Excellent access to Highway 97, Okanagan Lake, and Kelowna International Airport.
- Balanced local economy driven by construction, manufacturing, and logistics, with growing demand for light industrial and service-commercial space.
- Continued growth supported by steady in-migration, expanding infrastructure, and a pro-development municipal approach.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale 4501 31 Street, Vernon, B.C. (the “Subject Property”). This offering represents a rare opportunity to
acquire a newer, single-tenant investment property leased to the Government of Canada, providing investors with secure, long-term income backed by an
exceptional covenant. Constructed in 2014, the Subject Property comprises 7,708 square feet of modern office and warehouse space on a 34,818 square feet site, situated within Vernon’s established commercial and light industrial corridor just north of downtown. The property is fully leased to the Government of Canada until August 31, 2034, offering investors nearly nine years of remaining term with no renewal options. With its strong tenant covenant, long lease term, and minimal capital requirements, the Subject Property offers investors a stable, low-risk investment in a newer building within a growing Okanagan market.
acquire a newer, single-tenant investment property leased to the Government of Canada, providing investors with secure, long-term income backed by an
exceptional covenant. Constructed in 2014, the Subject Property comprises 7,708 square feet of modern office and warehouse space on a 34,818 square feet site, situated within Vernon’s established commercial and light industrial corridor just north of downtown. The property is fully leased to the Government of Canada until August 31, 2034, offering investors nearly nine years of remaining term with no renewal options. With its strong tenant covenant, long lease term, and minimal capital requirements, the Subject Property offers investors a stable, low-risk investment in a newer building within a growing Okanagan market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
7,708 SF
Building Class
C
Year Built
2014
Price
$3,160,000 CAD
Price Per SF
$409.96 CAD
Cap Rate
5%
NOI
$158,000 CAD
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
7,708 SF
Zoning
INDL - Light Industrial
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Walk Score®
Very Walkable (79)
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4501 31 St
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