5349 Imperial Street

Overview

Ideal for an owner-user, investment or redevelopment.  As part of the Royal Oak Urban Village Official Community Plan, the property is prime for redevelopment as a mixed-use building at a density of 2.2 FSR.  The site is 10,280 sq. ft. or 22,616 sq. ft. buildable.

The subject is improved with a two-storey “L” shaped building for industrial and office use totalling 5,744 sq. ft. with 7 onsite parking stalls.  Download brochure by clicking here.

Redevelopment Potential

The OCP allows for medium density (2.2 FSR) mixed-use redevelopment of the Royal Oak area which has been designated as an Urban Village.  Urban Villages are designated to accommodate non-Town Centre multi-family development associated with a commercial area. The commercial areas are intended to provide a focal point for convenient and close to home access to commercial facilities and services.    Based on a 10,280 sq. ft. site at a 2.2 FSR, the total buildable is 22,616 sq. ft. with a maximum height size of 4 storeys.

Download brochure by clicking here.

Location

The subject is located in Burnaby’s Metrotown just south of Kingsway and east of Royal Oak Avenue conveniently situated only a few blocks from the Metrotown Mall and two blocks north of the Royal Oak SkyTrain Station.

Improvements

Built circa 1970, the subject is improved with a two-storey “L” shaped building for industrial and office use totalling 5,744 sq. ft. with 7 onsite parking stalls.

Office:

• Currently vacant with approx. 2,024 sq. ft. combined on two levels
• Second level – unfinished, 5 enclosed offices (3 windows) and an open office with sink in one of rooms
• Ground level – one enclosed office, kitchen, retail area, walk-in safe

Warehouse:

• Leased by an auto repair shop with approx. 2,877 sq. ft. on main floor with 843 sq. ft. of mezzanine
• Torch-on roof replaced with 20-year warranty (2010)
• Currently paying $3,500/month gross rent with rent escalation