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250 Portage Ave
21,711 SF Vacant Retail Building Winnipeg, MB R3C 0B1 $3,483,000 CAD ($160 CAD/SF) 8.79% Cap Rate
Investment Highlights
- Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial vis
Executive Summary
Downtown Winnipeg Commercial Flex Opportunity
Prominent features of the offering include:
Prominent and high-profile location in the heart of Downtown Winnipeg steps from Portage and Main and the epicenter of development, the SHED District; easy walking access to The Forks, BellMTS Place, RBC Convention Centre, University of Winnipeg, and Red River College downtown campus in Winnipeg’s historic Exchange District.
Excellent exposure for signage and branding along Portage Avenue, which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis.
The existing structure is suitable for reconfiguration to a number of traditional office, medical, or commercial service uses given the open concept layout, floor to ceiling windows, and building design that includes mezzanine potential
Value-add opportunity for users interested in occupying the currently vacant two level 14,474 square foot space or for investors by way of selective long-term re-investment in the asset to capitalize on attractive commercial rental rates in addition to building naming rights and
Title to be treated as clear of mortgage financing.
Financial Summary (Pro forma - 2022) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2022) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- 24 Hour Access
- Atrium
- Banking
- Bus Line
- Conferencing Facility
- Corner Lot
- Courtyard
- Freeway Visibility
- Mezzanine
- Pylon Sign
- Security System
- Signage
- Signalized Intersection
- Roof Terrace
- Storage Space
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
| Space | Size | Space Use | Position | Available |
| lower level | 5,855 SF | Office/Retail | - | Now |
| main level | 7,237 SF | Office/Retail | - | Now |
| upper level | 7,237 SF | Office/Retail | - | Now |
lower level
| Size |
| 5,855 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
main level
| Size |
| 7,237 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
upper level
| Size |
| 7,237 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
lower level
| Size | 5,855 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
main level
| Size | 7,237 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
upper level
| Size | 7,237 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
• Unique opportunity for users and business operators to own their own real estate which features a high-profile Portage Avenue address, substantial visibility, and the ability to obtain building naming rights; Constructed for a financial institution, it was designed by Green Blankstein Russell Architects with 20’+ ceiling height on the main level, second-floor offices over-looking Portage and a fully-functioning lower-level with a Bank Vault. Natural light is abundant due to 3 walls of vertical windows Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis • The asset’s prominent position provides easy walking access to The Forks, Portage & Main, BellMTS Place, the RBC Convention Centre, the University of Winnipeg, and the Red River College downtown campus in Winnipeg’s historic Exchange District. The existing structure is suitable for reconfiguration, uses an open concept layout, floor to ceiling windows, and building design that includes mezzanine potential • Suitable for Medical, Research, IT, Boutique Hotel, Retail, Commercial & Residential Condominium development, etc; • Ample Parking around the building. Rear exit of the building opens into the Parkade next door, a huge ease & comfort factor in the winter • The property is available well below the replacement cost (rising significantly with current market situations), for the construction of same design & quality building; excluding the significant land cost
Nearby Major Retailers
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250Portage
250 Portage Ave
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