A small industrial property in North Vancouver has sold for $3 million, Macdonald Realty tells Western Investor.
The 5,700-square-foot warehouse building with storefront space was built in 1960, with a capitalization rate of 2.4 per cent. The property is presently tenanted by a furniture warehouse and has redevelopment potential. The site was listed for $2.9 million and has an assessed value of over $1.53 million.
The property is located at 1405 Pemberton Ave., North Vancouver.
Breakdown:
Price: $3,000,000
Lot Size: 4,537 SF
Property Type: Industrial
Zoning: EZ-LI
2016 B.C. Assessment Value: $1,537,000
Date of Sale: 10/25/2017
City: North Vancouver
Province: B.C.
Name of Brokerage: Macdonald Commercial Real Estate Services
