A two-unit commercial office building in Burnaby’s Edmond area of 7,048 square feet on a nearly 15,000-square-foot lot with potential mixed-use density (up to 2.2 FSR) development, sold May 20 for $4.3 million, more than $1.4 million above its assessed value.
No of units: 2
Rentable area: 7,048 square feet
Lot size: 14,945 square feet
Property type: Multi-use commercial
2018 BC Assessment value: $3,717,200
Capitalization rate: 2.2%
Date of sale: May 20, 2019
City: Burnaby, B.C.
Name of brokerage: Goodman Commercial Inc.