Sold

750-780 Nelson Street

Vancouver

Commercial Property
8 Retail Strata Lots

SOLD $2,250,000

Overview

The subject property consists of 8 commercial ground oriented fully leased strata lots with a total of 7 tenants. The commercial units provide street access to Nelson and Howe Street and are part of a 12 storey concrete residential high-rise building located in the heart of Vancouver’s Downtown District. The total net saleable area is 5,818 sq. ft.

Property

The 130 residential strata units (1010 Howe Street) located above the subject property on the 2nd – 12th floors are currently offered for sale by the owner.

Summary

Price$2,250,000
Property TypeRetail Strata
Units8
Gross Leasable Area5,818 sq. ft.
Price/SF387
Cap Rate5.26%
Year Built1984
ZoningDD
Sale Price$2,250,000
Sale Date01/01/2006

Financials

FinancingClear Title.
Assessment 2006
Land
Building
Total
Land$1,792,000
Building$602,100
Total$2,394,100
Income
Net Operating Income
Net Operating Income$118,337
NotesStrata Lot 1 (750 Nelson St.) is a gross lease; the 2006 taxes are $5,564; operating expenses are $116.66/month or $1,400/year. The remaining tenants are all triple net.

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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