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554 Leon Av
Kelowna, BC V1Y 6J6
Office Property For Sale
Investment Highlights
- Acquire ground floor strata lot (± 1,300 sqft) accounting for 5% of total building ownership
- Asset priced well below strata replacement value
- Owner-occupier opportunity for 5,500 to 12,000 sqft
- Reconfigure parking obligation to significantly enhance overall NOI
- Potential for further stratification and re-sale of individual floors/units
Executive Summary
Opportunity to acquire a fully leased, stratified property within a five storey office building in Downtown Kelowna. This incredibly well positioned asset features over 33,000 sqft of rentable area with an enclosed underground parkade and rooftop patio amenity. Every unit has been renovated with modern finishes and green building technologies. With an existing NOI of ~$725,000 (2025), the property offers secure in-place income from a strong tenant mix and future upside potential.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
31,379 SF
Building Class
B
Year Built
2014
Price
$8,006,362 USD
Price Per SF
$255.15 USD
Cap Rate
6.52%
NOI
$521,763 USD
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
6,276 SF
Building FAR
4.00
Lot Size
0.18 AC
Zoning
UC1
Parking
39 Spaces (1.24 Spaces per 1,000 SF Leased)
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