Side-by-side buildings

Overview

This offering represents an opportunity to acquire two side-by-side commercial investment properties located in the Hastings Village Heights Commercial District of North Burnaby. Improved on 10,296 SF, the westernmost lot is a 3-storey mixed-use building featuring 8 residential suites and 3 commercial units at grade. The adjacent lot to the east is a 2-storey commercial building leased to a music school.

Under the Hastings Street Area Extension Plan, the property can be developed up to a maximum of 24,710 SF (2.4 FSR). Properties can be purchased together or separately.

For more information, please click here.

Mixed-used 3-storey building		Single tenant 2-storey building
Address	4651 Hastings St, Burnaby	Address	4663 Hastings St, Burnaby
PIDs	012-108-707, 012-108-669	PIDs	002-531-615
Lot size	66’ × 104’ (6,864 SF)	Lot size	33’ × 104’ (3,432 SF)
Zoning	C-4A Service Commercial District	Zoning	C-4A Service Commercial District
Storeys	3 storeys	Storeys	2 storeys
Units	11 (8 residential & 3 commercial)	Units	2 commercial
Net Rentable	8,517 SF	Net Rentable	2,622 SF
NOI	$174,646	NOI	$75,435
Price	$4,850,000	Price	$2,350,000

The Heights in North Burnaby

The neighbourhood is an established residential and commercial node comprising a vibrant mix of many long-standing independent businesses, bustling retailers as well as successful franchises and anchor businesses. The area has seen an increase in demand for commercial premises with new developments catering to the local market. The property is ideally located on or near several major Translink routes and traffic arteries. These include Hastings Street, which sees 40,000 cars pass through daily (1.2 million each month) and Highway 1, which efficiently connects the Heights to numerous parts of the Lower Mainland. It is 5 minutes to the North Shore, 20 minutes to Downtown, and 25 minutes to Surrey.