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2916 LONSDALE Avenue in North Vancouver: Upper Lonsdale Retail for sale : MLS®# C8033466

2916 LONSDALE Avenue North Vancouver V7N 4H9 : Upper Lonsdale

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$11,325,000
Prop. Type:
Retail
MLS® Num:
C8033466
Status:
Active
Build. Type:
Low Rise (2-4 stories)
Opportunity to acquire a fully-leased, income producing retail plaza with rental escalations and a mid-long term redevelopment potential! The Subject Property is highly visible and easily accessible in North Vancouver’s most prominent retail commercial corridors. The space is being occupied by two well-known & established tenants: a Taekwondo Studio & Daycare Center. Both tenants are signed to brand-new long term net leases with rental escalations throughout the term. In addition, both leases comprise of early termination rights in favour of the landlord. There is excellent holding income with an inherent underlying opportunity for future redevelopment in 8-10 years! The Subject Property is 15,000 SF with 7,350 SF of rentable area. The parking includes 24 underground and 12 surface-level stalls. Competitively priced at $11,325,000 with a 3.25% cap rate. Please do not disturb tenants.
Sale Type:
Asset
Property Type:
Retail
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories)
Retail Size:
Switch units of measure7,350 sq. ft.
Land Use/Zoning:
C2
Taxes:
$42,374.76 / 2020
Env Assmt Phase:
Phase/Stage 1
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Lse Op Costs SF:
Previous Price:
Original Price:
Listed by CBRE Limited
Data was last updated August 8, 2020 at 08:10 PM (UTC)
RAYMOND LEUNG

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