Price: $6,300,000
Lot Size: 1.05 acres
Property Type: Office / Retail
Zoning: C4
City: Kelowna
Province: B.C.
Name of Brokerage: HM Commercial, Macdonald Realty Kelowna
Southgate Shopping Centre has sold for $6.3 million this past summer, in the heart of Kelowna’s Pandosy Village.
HM Commercial Group of Macdonald Realty Kelowna brokered the sale of two lots that make up the fully-leased strip mall. The first lot is 0.83 acres and home to the subject property, and the second lot is 0.23 acres and is used as a 58-stall surface parking lot. The property has a net operating income of $365,768 and a current cap rate of 5.85 per cent. The shopping centre is in close proximity to Kelowna General Hospital and Lake Okanagan.
The properties are located at 2606 and 2618 Pandosy St., Kelowna.
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