Burnaby commercial building sold for $4.3M

Fully leased property in Edmonds has development potential

By
for Western Investor
July 2, 2019





DD 7440 Edmonds Burnaby

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.

Price: $4,300,000

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.


Cynthia Jagger is a principal at Goodman Commercial and specializes in the rental apartment and development site market in Metro Vancouver. She is also a co-publisher of The Goodman Report.

Goodman Commercial
560–2608 Granville Street,
Vancouver, B.C. V6H 3V3
Office: 604-558-5511
www.goodmanreport.com

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