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Key Details
Sold Price $1,600,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 1004836
Sold Date 08/28/25
Rental Info Unrestricted
Year Built 1996
Annual Tax Amount $31,631
Tax Year 2024
Lot Size 0.360 Acres
Acres 0.36
Property Sub-Type Office
Property Description
Exceptional income property in the historic downtown core area of Duncan with a 6% cap rate. The property has strong tenancies with a long term track record of full occupancy. The main tenant is a highly respected law firm that has been a tenant since 1996 (occupies approximately 75% of the leasable space). The remaining leasable space (approximately 25%) is held by well established tenants including four separate health and wellness businesses. The property is supported by a vibrant community that is seeing significant growth and revitalization. Duncan is located in Southern Vancouver Island and is 60 KM north of Victoria and 50 KM south of Nanaimo. Duncan is the main business and shopping center for the Cowichan Valley. This property is only suitable for an income investor that desires strong tenancies with low turnover and long-term leases. Do not approach tenants and all sizes are approx. and should be verified by the Buyer. Income Investors only - long term leases in place.
Location
Province BC
County Duncan, City Of
Area Du West Duncan
Zoning Neighbourhood Commercial
Interior
Heating Heat Pump
Cooling HVAC
Flooring Mixed
Exterior
Exterior Feature Balcony/Patio, Lighting, Low Maintenance Yard, Sign: Allowed, Wheelchair Access
Parking On Site 1
Utilities Available Cable To Lot, Electricity To Lot, Garbage, Natural Gas Available, Phone To Lot
View Y/N 1
View City, Mountain(s)
Total Parking Spaces 22
Building
Lot Description Central Location, Curb & Gutter, Easy Access, Family-Oriented Neighbourhood, Landscaped, Level, Recreation Nearby, Rectangular Lot, Serviced, Shopping Nearby, Sidewalk
Story 2
Foundation Poured Concrete
Sewer Sewer Connected
Water Municipal
Structure Type Concrete,Frame Wood,Insulation: Ceiling,Insulation: Walls,Shingle-Other,Stucco
Others
Tax ID 000-255-645
Ownership Freehold
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Bought with William Wright Commercial Real Estate Services