2-storey commercial building

Overview

The subject is a 2-storey commercial building leased to a music school in the Hastings Village Heights Commercial District of North Burnaby. The adjacent lot to the west is also for sale: a 3-storey mixed-use building (4651 Hastings Street, Burnaby) featuring 8 residential suites and 3 commercial units at grade. The total lot size for both properties is 10,296 SF.

Under the Hastings Street Area Extension Plan, both properties combined can be developed up to a maximum of 24,710 SF (2.4 FSR).

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The Heights in North Burnaby

The neighbourhood is an established residential and commercial node comprising a vibrant mix of many long-standing independent businesses, bustling retailers as well as successful franchises and anchor businesses. The area has seen an increase in demand for commercial premises with new developments catering to the local market. The property is ideally located on or near several major Translink routes and traffic arteries. These include Hastings Street, which sees 40,000 cars pass through daily (1.2 million each month) and Highway 1, which efficiently connects the Heights to numerous parts of the Lower Mainland. It is 5 minutes to the North Shore, 20 minutes to Downtown and 25 minutes to Surrey.