706 Yates St, Victoria BC V8W 2R9

706 Yates St, Victoria BC V8W 2R9 - Office for Sale in Victoria, BC

This 0 bedroom, 0 bathroom office in Victoria, British Columbia is listed for sale at $25,000,000. Lot size: 20,909 sq ft (0.48 acres).MLS® #1053596.

Exceptional investment & repositioning opportunity in downtown Victoria. +/- 85,777 SF (net leasable), 6-storey, concrete & steel building on 20,895 SF lot with approx. 170' frontage. Currently configured as office w/ ground floor retail & anchored by long-term national retail tenant.

Projected cap rate of ~7% at full occupancy. Over $2M invested in CapEx since 2020 incl. 2 new elevators and rooftop HVAC units.

Also includes overheight basement w/ elevator access & sprinklers. With floors 2 thru 6 entirely vacant, 706 Yates offers substantial potential for conversion to hotel or residential. ~7,500 SF of exterior terrace space possible on 3rd floor. Windows on 3 sides provide abundant natural light.

Constructed as a hotel in 1913 then modernized & expanded in 1988-1991 for federal govt office use. Not heritage designated. Clean Phase I ESA available.

Option to purchase as a bare trust. Motivated vendors. Comprehensive data room available w/ NDA.

Contact agent for more information.

Looking for homes for sale in Victoria? Browse Victoria real estate listings,commercial sale properties, and Vancouver Island homes on IslandSold.com. Located in the Vi Downtown neighborhood. Part of the Victoria area.