2990 Arbutus Street
Vancouver, BC
FOR SALE
Property Details
- Lot Size 5,797 sf (58 ft x 100 ft)
- Building Area 5,118 sf
- Zoning C-2
- Year Built 1991
- Tenants Leased to One (1) Tenant
- Broadway Plan Designation Broadway/Arbutus South - Area E
- Right to Terminate Landlord has the option to terminate the lease after year 1 for the purpose of their own use or a development
- Sale Structure Asset Sale (potential for share sale through acquiring operating company)
- Stabilized Net Operating Income (Year 1) $213,210
- Pricing Guidance $5,800,000
Opportunity
Avison Young is pleased to present the opportunity to acquire 2990 Arbutus Street, Vancouver, BC (the “Property”). The Property is improved with a singlestorey commercial retail building containing 5,118 sf of prime retail, office and warehouse space. The Property is located in the highly desirable Kitsilano neighbourhood, several blocks away from the newly constructed Arbutus Skytrain Station. The Property benefits from a vibrant thriving retail and residential community that is conveniently connected to downtown Vancouver and surrounding Metro Vancouver areas.
Investment Highlights
Prime location situated in the heart of Kitsilano, offering easy access to amenities and transit options
The Property is improved with a fully renovated commercial building with an exceptional 100 ft of frontage facing Arbutus Street
Leased to a medical clinic with rent escalations every 2nd year. Landlord can terminate the lease anytime after year 1 for their own use or a future development
Located within the 400m to 800m proximity threshold to the Arbutus Station SkyTrain Millennium Line in a Transit Oriented Development (TOD) area, allowing a maximum of 3.0 FSR and 8 storeys
Major capital upgrades have been completed to the building including a fully renovated interior space throughout. The property is best suited for medical or health professionals in its current form
