A prime retail investment property has sold for $7.8 million, Avison Young Commercial Real Estate tells Western Investor.
The 4,000-square-foot building in the heart of the Kerrisdale has two retail units, presently occupied by Buchan’s Kerrisdale Stationary and The Perfect Gift – Martin Smith Jewellers. The property is one of few opportunities that arise to acquire commercial property in the prime West 41st Avenue corridor. The fully-leased property was was renovated with a new roof in 2008. The property has potential to be part of assembly for future redevelopment. Avison Young agent Michael Buchan represented the vendor in this sale.
The property is located at 2135 W 41st Ave., Vancouver.
Breakdown:
Price: $7,810,000
No. of Units: 2
Price/Unit: $3,905,000
Lot Size: 5,200 SF
Property Type: Retail
Zoning: C-2
2016 B.C. Assessment Value: $7,038,100
City: Vancouver
Province: B.C.
Name of Brokerage: Avison Young Commercial Real Estate
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