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Commercial Investment Property

7460 Edmonds Street, Burnaby

Retail / office building
7,048 SF leasable area

$4,300,000

Overview

To acquire commercial investment opportunity leased to 2 tenants in Burnaby’s Edmonds Town Centre neighbourhood on the 7400 Block of Edmonds Street. The property is improved with a two-storey commercial building with 7,048 SF leasable area on a 132’ × 113.22’ (14,945 SF) lot. The Edmonds Community Plan designates the site Medium Density Mixed-Use (up to 2.2 FSR) allowing for potential redevelopment. 

Location

Edmonds is one of the best-kept secrets in the Lower Mainland. With a strong sense of community and history, beautiful views, parks and trails, recreational amenities, and a thriving business district all within walking distance, this neighbourhood is the place to be.
 
Located in the southeastern quadrant of Burnaby, and anchored by Edmonds Town Centre, the subject property provides easy access to Highgate Village, with its open space market and friendly shopping experience, adds an abundance of new shops and services. 

The recently opened Edmonds Community Centre brings brand new amenities including both a swimming and leisure pool, gymnasium, preschool and daycare, a youth lounge and more. The new Burnaby Public library is close by on the north side of Kingsway, just west of Edmonds Street. The Metrotown Mall is a 10 minute drive or take the Expo Line Skytrain at the Edmonds Station close by.

Summary

Price$4,300,000
Property TypeCommercial
Units2
Storeys2
Gross Leasable Area7,048 SF
Cap Rate2.2%
Year Built2002
Lot Size132’ × 113.22’ (14,945 SF)
ZoningC4
PID002-485-991

Financials

Assessment 2018
Land
Building
Total
Land$3,706,000
Building$11,200
Total$3,717,200
Taxes 2018
$36,106
Income and Expenses
Net Operating Income
Net Operating Income~$96,000

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

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