142 Morison Ave
PQ Parksville Parksville V9P 0B1

$3,100,000
Commercial Sale built: 1952

Main Photo: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
Photo 1: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
Photo 2: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
Photo 3: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
Photo 4: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
968147
Year Built:
1952
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. 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 %
Property Type:
Commercial Sale
Type:
Retail
Commercial Type:
Building, Business, Land
Year built:
1952 (Age: 73)
Lease Type:
Sale Of Shares
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
PQ Parksville, Parksville/Qualicum
Bathrooms:
- (Full:-/Half:-)
Lot Size:
6,997 sq. ft.
Taxes:
Ceiling Heights:
Total Potential Area:
6,487 sq. ft.
Leasable Area:
6,487 sq. ft.
Commercial Area:
Fireplace:
No
Pending Date:
Main Level
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Parksville
Legal Description:
Zoning:
C3.2 & l-1
Legal Non-Conformance:
No
Units in Building:
Units in Community:
Business Type:
Other
Total Units:
Date Listed:
Jun 20, 2024
Original Price:
3100000.0
  • Photo 1: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
    Photo 1 of 4
  • Photo 2: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
    Photo 2 of 4
  • Photo 3: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
    Photo 3 of 4
  • Photo 4: 142 Morison Ave in Parksville: PQ Parksville Retail for sale (Parksville/Qualicum)  : MLS®# 968147
    Photo 4 of 4
Listed by Royal LePage Coast Capital Realty
Data was last updated March 31, 2025 at 10:05 AM (UTC)
Area Statistics
Listings on market:
27
Avg list price:
$512,000
Min list price:
$89,000
Max list price:
$6,500,000
Avg days on market:
77
Min days on market:
20
Max days on market:
336
These statistics are generated based on the current listing's property type and located in PQ Parksville. Average values are derived using median calculations.
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.