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Vancouver small industrial site sells over assessment at $5.1 million

Mount Pleasant property with 5,000-square-foot building on a 0.08-acre site with development potential close to future SkyTrain extension sold for $445 per buildable square foot
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Avison Young, Vancouver, for Western Investor

Property type: Industrial

Location: 124 East 8th Avenue, Vancouver

Size of building: 5,000 square feet

Size of land: 3,825 square feet

Land size in acres: 0.08 acres

Zoning: I-1 (industrial/office)

Potential: 3 FSR (floor-space ratio)

BC Assessment value: $3.7 million

Sale price: $5.1 million

Date of sale: July 27, 2021

Brokerage: Avison Young, Vancouver

Broker: Stuart Wright