706 Yates St, Victoria, BC V8W 2R9
706 Yates St, Victoria, BC V8W 2R9
706 Yates St, Victoria, BC V8W 2R9
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Jason Anson

Jason Anson

+1(250) 252-7653
Listing by David Boon William Wright Commercial Real Estate Services
$25,000,000
Est. payment /mo
90,713 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 90,713 sqft

Price per Sqft $275

MLS Listing ID 1053596

HOA Y/N No

Annual Tax Amount $359,314

Tax Year 2026

Lot Size 0.480 Acres

Acres 0.48

Property Sub-Type Mixed Use

Property Description

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.

Location

Province BC

County Capital Regional District

Community Vi Downtown

Area Victoria

Zoning CBD-1

Interior

Fireplace No

Exterior

View Y/N false

Garage No

Others

Ownership Freehold

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.”
Jason Anson
Jason Anson

Agent License ID: 188385

+1(250) 252-7653 | sold@jasonanson.ca

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706 Yates St

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