Property Info
Property Description
Rare opportunity to acquire one of Kelowna’s Trophy Assets at 2090 Harvey Avenue. A fully tenanted, income producing property positioned at the corner of one of Kelowna’s busiest intersections.
Tenanted by six national tenants, with five of the six leases being in place through 2034, the opportunity at 2090 Harvey provides a sophisticated investor with an immediate, high NOI turnkey investment asset with built in rental escalations supporting longterm income growth. The NOI is projected to increase by an average of 2.12% annually, representing total growth of 20.42% through 2036 over the 10-year lease forecast.
Situated at the corner of Harvey Avenue and Cooper Road, the property is passed by more than 55,000 vehicles per day and is directly opposite Orchard Park Mall, which welcomes more than 6 million shoppers annually. Additionally, the property’s CA1 (Core Area Mixed Use) zoning allows for future redevelopment of up to 12 storeys, providing significant long-term redevelopment potential along one of Kelowna’s primary transit corridors.
Offering approximately 10,224 SF of leasable building area on a ±0.944-acre lot, the property combines current strong NOI figures, longterm national covenant tenancy and built in rental escalations in a high-profile location with future redevelopment potential.
Property Information
- Trophy: Opportunity to acquire one of Kelowna’s Trophy Assets
- Size: Lot: ±41,124 SF | Building: ±10,224 SF
- Zoning: CA1 (Core Area Mixed Use)
- Redevelopment: Future redevelopment of up to 12 stories
- Tenants: Fully leased with five national tenants and established dental office
- Leases: 5 out of 6 leases in place through 2034
- Upgrades: Recent exterior and interior building and aesthetic upgrades
