William Wright Commercial is pleased to have represented the Purchaser in the sale of 201 Menzies Street, a +/- 8,900 SQFT mixed-use income property in a prime location at the five corners in James Bay Village. The property consists of four occupied retail units totalling +/- 3,000 SQFT of leasable area and seven apartments. 201 Menzies was acquired at a cap rate of approximately 6% based on current earnings, with a stabilized cap rate of over 8% achievable within 5 years and long-term redevelopment potential with an eventual land assembly.
Sold
201 Menzies Street, Victoria,
Canada
± 8,900 SQFT
Multifamily
$2,500,000
This communication is not intended to cause or induce breach of an existing agency agreement. E&OE: All information contained herein is from sources deemed reliable, and have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.
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