Highlights
•Ground-floor strata lot available (±1,300 sq. ft.) representing 5% ownership of the building •Asset priced well below strata replacement value •Owner-occupier potential for 5,500–12,000 sq. ft. •Opportunity to reconfigure parking to significantly increase overall NOI •Potential for further stratification and resale of individual floors or units
Description
This is a chance to acquire a fully leased, stratified property within a five-story office building in downtown Kelowna. The well-located asset offers over 33,000 sq. ft. of rentable space, complete with an enclosed underground parkade and rooftop patio. Each unit has been upgraded with contemporary finishes and sustainable building technologies. With a projected NOI of approximately $725,000 in 2025, the property delivers stable, in-place income from a strong tenant mix, along with significant upside potential for future growth.
Listing Details
- Cap Rate
6.52%
- Tenancy
Multi
- Space Type
Office
- Sub Category
Executive
- Date Listed
11/20/2025
- Net Operating Income
$518,409
- Parking Info
39 Spaces (1.24 Spaces per 1,000 SF Leased)
- Typical Floor Size
6,276 SF
- Building FAR
4
Property Specifics
- Property Name
554 Leon Av
- Property Class
B
- No of Stories
5
- Year Built
2014
- Building Size
31,379 SF
- Lot Size
0.18 Ac
- Zoning
UC1