$889,900
435 5th St
Beds
—
Baths
—
Sqft
3,550
Year
—
Type
Other
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Courtenay. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Exceptional investment opportunity in the heart of Downtown Courtenay. This well maintained commercial building offers over 3,300 sq ft of prime retail space with three established tenants in place, generating $51,240 in annual income plus NNN. For investors, the advantage of triple net leases is clear, tenants cover operating costs such as taxes, insurance, and maintenance, creating a far more predictable and hands off investment compared to residential rentals where unexpected expenses can quickly impact returns. Two of the tenants have successfully operated here for over 20 years, providing outstanding long term stability, while the newest tenant secured their space after competing in a multiple offer for this highly sought after storefront location. Strong demand for Downtown Courtenay retail frontage continues to highlight the value of this asset. Located in one of the most vibrant commercial corridors on Vancouver Island, this property benefits from excellent foot traffic, strong neighbouring businesses including Bigfoot Donuts, Hot Chocolates, and BMO, plus additional nearby parking that makes access convenient for customers and staff alike. The thriving downtown business community continues to attract both locals and visitors year round. The building is in great condition with pride of ownership evident throughout, including individual heat pumps for all three units and the added bonus of two private parking stalls, an increasingly rare feature downtown. Predictable lease escalations are already built into the existing agreements, offering reliable income growth and long term security for the next owner. Please don't disturb the existing tenants. (id:65958)
- Subtype
- Other
- Structure
- Commercial Mix
- Community
- Courtenay City
- Common interest
- Freehold
- Lot size
- 4,540 square feet
- Lot dimensions
- 4540
- On market
- Apr 28, 2026
- Status changed
- Apr 29, 2026
- Annual tax
- $14,416
- Zoning
- Unknown
- Photos
- 4
- MLS#
- 1033662
- Area
- COURTENAY
Features and systems
Heating
Cooling
Lot
Cash on cash
-6.61%
Cap rate
3.54%
GRM
16.7
Break-even rent
$5,482
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Courtenay. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 29, 2026.