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1669 Victoria Street For Sale

Prince George, British Columbia, Canada
Asking Price:
$11,900,000 (CAD)
Sales Revenue:
Not applicable
Cash Flow:
Not applicable

Presenting the Victoria Medical Building—an exceptional 70,596 SF investment opportunity in the heart of Prince George's thriving Gateway/Downtown district. Located at 1669 Victoria Street, this property spans an entire block, encompassing two corners bounded by Victoria St. to the east, 17th Ave. to the south, and Redwood St. to the west.

This opportunity features the landmark Victoria Medical Building and an additional title for parking convenience, located at 1740 Redwood Street. With a total land area of 48,755 SF, including nearly 1 acre on Victoria Street and an additional 6,120 SF lot on Redwood Avenue, this property presents a rare chance to secure a substantial foothold in Prince George's burgeoning medical sector.

The Victoria Medical Building stands as an income-producing asset with a robust rental history, currently accommodating 40 tenants across its multiple floors. This dynamic tenant roster includes established healthcare providers, specialists, and allied health professionals, ensuring a steady stream of rental income and long-term stability for investors.

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Property Information

Real Estate:

Real Property Included

Location:

Nestled in the heart of Prince George's Gateway/Downtown district, this property enjoys proximity to key amenities and transportation hubs. With intersections of major road, rail, and air routes, Prince George serves as a vital transportation hub in the region. Victoria Street, the main thoroughfare for downtown, boasts the highest traffic count in the area, offering unparalleled exposure for businesses. The subject property is located in the Gateway/Downtown district, approximately 0.5 km southwest of downtown Prince George, surrounded by a mix of multi-family, commercial, and single-family uses. Renovations by the city and local business improvement associations have enhanced the aesthetics of Victoria St. and Redwood St., making them the gateway to Prince George's downtown sector.

Premises Details:

Medical Office Tower: The centerpiece of this property is a three and five-storey medical office tower, boasting a total floor area of 70,596 SF across multiple levels, including two underground parkades. Featuring a mix of retail and office spaces, this iconic building has a long-standing reputation as Prince George's premier medical hub, housing a diverse array of tenants, including doctors, dentists, physiotherapists, and related medical professionals. Anchor Tenants: Anchor tenants such as Rexall, Life Labs, and Northern Health occupy prominent spaces on the main floor. With a total of 40 tenants and a waiting list highlighting demand, this property offers a compelling investment opportunity with strong rental income. Ample Parking: Two underground parkades providing a total of 28 parking stalls and a paved on-site parking lot at grade, supplemented by an additional 24 stalls at the adjacent lot on Redwood. Convenient access to parking ensures ease of use for tenants and visitors alike. Basement: 15,905 sf, 1ST floor: 18,069 sf, 2nd floor: 11,779 sf, 3rd floor: 11,779 sf, 4th floor: 6,532 sf, 5th floor: 6,532 sf

Size in square feet:
70,956

Business Operation

Expansion Potential:

Investment Potential: Financial aspects of this property includes the current rental income, potential for rental growth, and return on investment analysis. With a stable tenant base and a strategic location in Prince George.

Other Information

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