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342 Water Street

Vancouver

Commercial Property
5 Storey Office Building

SOLD $4,175,000

Overview

The subject property is a five storey fully occupied downtown office building with a small retail component located in a prime Gastown location. Built in 1900 and recently renovated, this building was successfully restored to highlight its historic characteristics and now remains a showpiece in the Gastown district.

Summary

Price$4,200,000
Property TypeOffice / Retail
Gross Leasable Area20,220 sq. ft.
Price/SF160
Cap Rate7%
Year BuiltEarly 1900's renovated in 1978, 1989 & 1995
Lot Size4,444 square feet
ZoningHA-2 Heritage Designation (Class B)
Sale Price$4,175,000
Sale Date01/01/2005

Financials

FinancingClear Title.
Assessment 2004
Land
Building
Total
Land$1,364,000
Building$936,000
Total$2,300,000
Income and Expenses
Net Operating Income
Net Operating Income$294,357
NotesFor a detailed information package including improvements and renovations, click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

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