250-260-8618
250-549-2103
72
$5,045,300 Sale
Listed 74 days ago
616 Third Street W
· 0
· 0.0
· 15
· 11250
Key Facts
Key facts for 616 Third Street W
Property Type
Commercial
Parking
Garage: No, 15 parking
MLS #
10352878
Size
11250 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1914
Maintenance Fee
-
Description
This multi-award winning property stands as both a cultural landmark and high-performing investment in Revelstoke's booming downtown core. Its 11,000+ sq/ft space generates exceptional cash flow, with: • Profitability: Six figures with room to grow. • Stable Tenant Mix: 8 long-term leases (up to 15 ...years) • Tenant Retention: 3 renewals demonstrating exceptional occupancy satisfaction • Unique Value-Add Opportunity - The Heritage Revitalization Agreement (HRA) permits a fourth-floor addition (>3,500 sq/ft) • Future-proofing as commercial demand outpaces supply The property's irreplaceable location, combined with its diversified income streams and institutional-grade tenancies, creates a rare ""set-and-forget"" investment with appreciation upside in Canada's fastest-growing mountain resort market. Originally constructed in 1914 as a school, Mountain View served the community for nearly a century! In 2017, an award-winning renovation—led by a distinguished team including a Professor of Historic Architecture, architects, engineers, and code consultants—breathed new life into this iconic property. Rarely does a property of such grandeur and historical significance become available in Western Canada—let alone within a world-class international ski destination. Mountain View is truly the crown jewel of Revelstoke’s real estate, offering unmatched prestige and functionality. (id:10452)
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Listing courtesy of: Real Broker B.C. Ltd
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