Sold
Investment Property
850 SW Marine Drive, Vancouver
Commercial Property
2.12-acre future development site
SOLD $25,250,000
Overview
This is a rare opportunity to acquire a long term, single tenanted high-exposure Vancouver investment property with future redevelopment potential.
Strategically located with over 460 feet of frontage on busy SW Marine Drive, this 2.12 acre site is leased to the MCL Motors “Honda” dealership. Improved with a 2-storey, 45,621 SF auto retail building.
The property is walking distance to the Marine Drive Canada Line Station at Cambie & Marine and a 5 minute drive to the Vancouver International Airport.
Summary
Price$25,250,000
Property TypeCommercial
Storeys3
Gross Leasable Area45,621 SF
Cap Rate4%
Lot Size92,615 SF
ZoningI-2 Light Industrial
PID004-083-024
Sale Price$25,250,000
Sale Date01/12/2016
Financials
| Financing | Assumable $10,000,000, 5 year term expiring October 1st, 2018, 25- year amortization, interest rate 3.79% | |
|---|---|---|
| Income and Expenses | Net Operating Income | Net Operating Income$944,550 (10-year average) |
| Notes | For more information, please 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.
