750-780 Nelson Street

Vancouver

SOLD $2,250,000

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Price$2,250,000

Property typeRetail Strata

Units8

Gross leasable area5,818 sq. ft.

Year built1984

ZoningDD

Cap rate5.26%

Price/SF387

Legal descriptionStrata Lts 1-8, DL 541, Grp 1 NWD, PL LMS 2586

Sale price$2,250,000

Sale date01/01/2006

Overview

The subject property consists of 8 commercial ground oriented fully leased strata lots with a total of 7 tenants. The commercial units provide street access to Nelson and Howe Street and are part of a 12 storey concrete residential high-rise building located in the heart of Vancouver’s Downtown District. The total net saleable area is 5,818 sq. ft.

Property

The 130 residential strata units (1010 Howe Street) located above the subject property on the 2nd – 12th floors are currently offered for sale by the owner.

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Financing	Clear Title.
Assessment 2006	Land Building Total	Land$1,792,000 Building$602,100 Total$2,394,100
Income	Net operating income	Net Operating Income$118,337
Notes	Strata Lot 1 (750 Nelson St.) is a gross lease; the 2006 taxes are $5,564; operating expenses are $116.66/month or $1,400/year. The remaining tenants are all triple net.

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