1111 Gordon Drive

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:58842)