$3,100,000 FOR SALE


142 Morison Ave
Parksville, BC V9P 0B1

This listing is for the sale of shares of 2 corporations. The first one being the Tower Brae Holdings Ltd. which operates as Parksville Home Hardware, Parksville, B.C. This is a well established Home Hardware franchise with a proven record of profits over many years. It is located in the heart of downtown Parksville with excellent traffic flow and is a destination business with many regular customers. The premises is a well maintained building with ample space to display the retail sales of this well stocked family hardware store. Any buyer must be able to qualify as a franchisee within the Home Hardware franchise agreement. Tower Brae Holdings Ltd. is offered for sale at $650,000 which includes $350,000 in inventory. The purchase price would be adjusted to reflect actual inventory at the takeover date. The second corporation is Ormiston Holdings Ltd, which owns the land and buildings, consisting of 142 Morison Ave with 6,997 sq ft of retail space, valued at $2.2M and a warehouse at Unit 7-1147 Franklin's Gull Rd in the Parksville Industrial Park with approx. 1300 sq ft of storage space, valued at $250,000 and reflects a combined cap rate of 5.71% (id:47423)


Listed By NAI Commercial Central Vancouver Island Ltd.
Data Provided By Vancouver Island Real Estate Board
MLS® Listing Number 922447
Last Updated Jun 04, 2023
Property Summary
Property Type Commercial/Retail

More like this:
Use Retail And Wholesale
Neighbourhood Parksville
Price History
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Detailed Information
Listing Contract Date 2023-01-19
Municipal ID 007-341-563
Ownership Type Other, See Remarks
Plan VIP1504
Property Type Retail
Transaction Type For sale
Zoning Description C3.2 & l-1
Zoning Unknown
Business Type Retail and Wholesale
Type Retail
Total Size 6997 square feet
Access Type Road access
Size of Irregular Land 6997

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