A small retail space near Royal Oak SkyTrain station has sold for $1.32 million, William Wright Commercial tells Western Investor.
The corner unit measures 1,818 square feet and includes three parking stalls located in the commercial parking lot at the rear of the unit. The Royal Oak district has seen amazing growth since 2009 with over 450 new town homes and condos entering the area and even more development slated for the South Burnaby neighbourhood. The property is a rare, transit-oriented retail investment, selling for $72,000 over asking price in just 24 hours.
The property is located at 101 – 6888 Royal Oak Ave., Burnaby.
Breakdown:
Price: $1,320,000
Property Size: 1,818 SF
Property Type: Retail
Zoning: C8
2016 B.C. Assessment Value: $864,000
City: Burnaby
Province: B.C.
Name of Brokerage: William Wright Commercial
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