A multi-tenant industrial facility has sold for $5.75 million, according to Avison Young Vancouver.
The fully-leased, recently renovated property is 26,400 square feet situated on a 1.57 acre lot. The warehouse has seven grade loading doors with 23ft ceilings. The property has a net-operating income of $267,970.
The warehouse is within the Still Creek industrial area of North Burnaby, between Lougheed and Trans-Canada Highway. This area allows for quick and convenient access throughout Metro Vancouver. This area is easily accessible by regular bus service along Douglas Road, and is an approximately ten minute walk from the Holdom SkyTrain Station.
The property is located at 2984 Norland Ave., Burnaby.
Breakdown:
Price: $5,750,000
No. of Units: 4
Price/Unit: $1,437,500
Lot Size: 1.57 acres
Property Type: Industrial
Zoning: M-2
2016 B.C. Assessment Value: $4,812,000
City: Burnaby
Province: B.C.
Name of Brokerage: Avison Young
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