Investment Property / Development Site

Overview

A rare opportunity to acquire a turnkey automobile showroom and office building located just southeast of Burrard Street and West 4th Avenue. Improved on a large 19,593 SF lot in Vancouver’s Burrard Slopes, the property’s large 175’ frontage and IC-1 zoning allows for up to 58,779 SF (3.0 FSR) of density comprising a mix of office and light industrial-use space.

This offering is ideal for owner-users, investors or developers looking to secure a property with exceptional current and future use potential.

Scenarios

1. Acquire “as is” with lease in place (ends Dec 31, 2024) with potential for renewal or new lease;
2. Redevelop property up to 3.0 FSR or 58,779 SF;
3. Redevelopment potential based upon the Broadway Corridor Plan, longer term.

Broadway Plan Study Area

1717 West 5th Avenue are situated in the Broadway Corridor Plan Study area, just a short ten-minute walk to the future South Granville subway station. The draft plan is anticipated to be presented to council in early 2022.

The City’s Broadway Plan Refined Directions document indicates the property is located in the Burrard Slopes Mix Employment Area. The document indicates the following vision for the future: modest increase in height and density to support innovation and creative economy uses, while maintaining the light industrial function.

Location

1717 West 5th Avenue is located in Vancouver’s coveted Burrard Slopes neighbourhood, just south of the Armoury District, the city’s premier destination for high-end automobile sales showrooms, designer offices and furniture and décor galleries.

The property is positioned just one block east of Burrard Street and one block south of West 4th Avenue, providing quick access to key arterial routes. Additionally, the subject property is located within walking distance to adjoining residential districts and everyday retail amenities located on West 4th Avenue and Granville Island.

The neighbourhood continues to grow into a true mixed-use community, and the property will further benefit from this growth with the announcement of the new 2-acre Burrard Slopes Park located directly across the street. Lastly, the property is situated within a 10-minute walk to the future Broadway-Granville Subway station which is slated for completion in 2025.