Penticton self storage facility sells for more than $3M | iNFOnews | Thompson-Okanagan's News Source

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Penticton self storage facility sells for more than $3M

The self storage facility at 1264 Carmi Avenue recently sold for $3.2 million in Penticton.
Image Credit: SUBMITTED/NAI Commercial
January 12, 2021 - 7:00 PM

A Penticton self storage facility with 312 units recently sold for nearly $3.3 million.

Stop and Store self storage, including 1.84 acres at 1264 Carmi Ave. and contains 318 purpose built self-storage containers, was sold for $3,270,000, according to NAI Commercial Vancouver Investment and Sales broker Ken Kiers.

READ MORE: Self storage industry is booming in Kamloops, the Okanagan and beyond

Zoned M1 industrial, the property has room to expand to 350 containers and is currently 65 per cent occupied, with new containers recently added.

Current zoning allows for the construction of up to 86,000 square feet of a class A self-storage facility on three floors.

Self-storage has been a booming business throughout the Okanagan, primarily as garages for people living in multi-family dwellings and needing storage space.

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