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Carey Road Portfolio 2 Retail Properties Offered at $2,614,763 in Victoria, BC
INVESTMENT HIGHLIGHTS
- Stable income from long-term veterinary lease with renewal options
- C-2 zoning allows for diverse commercial and residential uses
- Strong redevelopment potential under Saanich’s OCP Neighbourhoods designation
- Fully vacant adjacent building with flexible multi-unit layout
- Prime location near Uptown Shopping Centre and major highways
EXECUTIVE SUMMARY
This versatile assembly offers stable cash flow from the VCA lease, with immediate functionality for owner-occupiers with 3892 Carey Road being completely vacant, or investors could lease out the units and increase their return. The properties also offer great long-term development potential, with a total site size of 20,880 square feet. 3892 Carey Road is currently demised into 4 commercial retail units on the main level, with a large 2 bedroom residential unit on the second level, all of which are currently vacant. This provides owners with the flexibility of occupying some or all of the building for their own use and leasing out the remaining units for additional cash flow. The C-2 zoning allows for a wide range of uses including retail, medical services, office, restaurant, apartment and daycare use to name a few. 3890 Carey Road is a 4,645 SF building leased to VCA, as a legal non-confirming vet use. Their lease runs until March 31, 2027 with two further options to renew, each for a term of 5 years. This provides owners with a stable source of cash flow
PROPERTY FACTS
| Price | $2,614,763 USD | Number of Properties | 2 |
| Price / SF | $346.42 USD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 7,548 SF |
| Status | Active | Total Land Area | 0.31 AC |
| Price | $2,614,763 USD |
| Price / SF | $346.42 USD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 7,548 SF |
| Total Land Area | 0.31 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 3890 Carey Rd, Victoria, BC V8Z 4C9 | Retail | 3,948 SF | 1995 | - |
| 3892 Carey Rd, Victoria, BC V8Z 4C9 | Retail | 3,600 SF | 1951 | - |
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Carey Road Portfolio
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