Fantastic opportunity to purchase an income producing, light industrial investment property in Downtown Kelowna’s North End. Great central location in the Brewery District neighbourhood, with frontage along Gordon Drive and walkable access to numerous amenities. The property currently has a well diversified tenant base with 7 tenant spaces, providing a stable income stream. Offered for sale at an approximate cap rate of 5.61% on 2025 rents, escalating to 5.95% in 2026 (both years have 3% stabilization applied), with annual lease escalations supplying increasing returns year-over-year. Building is approximately 9,096 sq.ft. on a 0.395 acre lot, with I2 zoning. Located within the city’s North End Neighbourhood Plan, this lot has a special allowance of up to 3.0 FAR, making this an attractive long term hold for future redevelopment. Extensive upgrades and renovations have been completed to both the interior and exterior of the building from 2022-2024 (please see property brochure for detailed list). Tenant mix includes Kelowna Rocks & Gems, Plant Gather, Buffalo Rouge Brewing Company, 1120 Rock Club, Old Car Jack, and Kelowna Car Care Centre. Access and parking easements and/or agreements will be required for the property, to accommodate use and access on adjacent lots. Rear fence line includes a portion of the easement area of the neighbouring property at 1140 Brant Avenue, which is also available for sale - see MLS #10327956. (id:57557)
| MLS® Number | 10332547 |
| Property Type | Other |
| Neigbourhood | Kelowna North |
| Amenities Near By | Public Transit, Park, Recreation, Schools, Shopping |
| Community Features | High Traffic Area |
| Features | Level Lot |
| Constructed Date | 1971 |
| Size Interior | 9,096 Ft2 |
| Type | Residential Commercial Mix |
| Access Type | Easy Access |
| Acreage | No |
| Current Use | Mixed Use |
| Land Amenities | Public Transit, Park, Recreation, Schools, Shopping |
| Landscape Features | Level |
| Size Irregular | 0.39 |
| Size Total | 0.39 Ac|under 1 Acre |
| Size Total Text | 0.39 Ac|under 1 Acre |
| Zoning Type | Industrial |
https://www.realtor.ca/real-estate/27827528/1111-gordon-drive-kelowna-kelowna-north
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Real Estate Data supplied by CREA®’s MLS® System. CREA® is the owner of the copyright in its MLS® System. Data deemed reliable but not guaranteed accurate by CREA®. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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