High-exposure commercial property

Overview

High-exposure commercial property for sale! This 9,090 SF building is prominently located on a 19,889 SF site with direct frontage onto 200^th Street in the City of Langley.

The building is demised into three units and fully leased to automotive tenants on triple net leases. Two of the three leases offer significant upside on turnover within the next 18 months.

The structure was built in 1961 and features 11-to-14-foot clear ceiling heights and seven grade level loading doors. Surface parking is located around the perimeter of the building in front of each unit, and a 3,500 SF fenced yard at the rear of the building is leased through 2028, providing a significant ancillary revenue source. Units are improved with washrooms, showrooms, offices, and reception areas.

Land use

The property is zoned C-2 Service Commercial, a flexible district supporting a wide variety of commercial uses, including but not limited to automotive, retail warehouses, equipment sales and rental, convenience stores, tourist accommodations, restaurants, and offices.

C-2 zoning allows buildings up to 49 feet with 90% site coverage, and no prescribed floor space ratio.

The City of Langley Official Community Plan designates the property as “Mixed Employment” which envisions commercial projects up to 3.0 FSR and 6-storeys. Potential uses include commercial, light industrial, office and post-secondary education.

Location

The property is located on the east side of 200^th Street, just north of Fraser Highway within the City of Langley. This predominantly commercial / industrial node supports a rapidly growing population within both the City and Township of Langley.

The site is one block south of the region’s primary retail concentration, including the massive Willowbrook Shoping Centre and various big box and grocery anchored centres.

200^th Street is the main north-south arterial through the City and Township of Langley and provides a direct connection to Trans-Canada Highway 1. Fraser Highway, one block south of the subject, connects Langley to Surrey City Centre in the west and Aldergrove / Abbotsford in the east.

The Surrey Langley SkyTrain project is currently under construction, with completion scheduled in 2029. The Langley City Centre station will be built within 750 m of the property, making it an easy 10-minute walk.