FOR SALE - Form Retail
FOR SALE
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
CURTIS LEONHARDT* 604 638 1999 [email protected] FORM RETAIL ADVISORS INC.
*Personal Real Estate Corporation
JON BUCKLEY* 604 630 0215 [email protected]
FOR SALE
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PROPERTY HIGHLIGHTS • Leased to long-term tenant Hemingway’s Books, one of Western Canada’s largest new and used bookstores - Click Here for Website • 45 feet of frontage along historic Essendene Avenue, a well known retail strip rejuvenated by recent restoration of its historic buildings • Substantial recent building improvements including installation of new roof, gutters and downspouts in Aug. of 2015 (further improvements noted below)
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SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
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SUBJECT SITE
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Off-Street Parking and Loading
2015
• • •
Torch on Roof replacement, along w/ Gutters and Downspouts (20 YR Warranty) High Efficiency AC/Heat Pump System servicing three (3) independent zones 4 Camera Security System Installed. Comprises part of the downtown BIA’s remotely accessible 60 plus camera network covering the downtown core
2011/2012
•
Basement converted from on-line processing and procurement centre to retail space including replacement of interior stairway, rewired electrical and installation of fluorescent light fixtures (T8)
2009
• • •
Installed additional support post to main floor central beam All ground floor light fixtures updated to T8 alon Overhauled and updated storefront including new drywall, insulation, electrical and signage
ABBOTSFORD Abbotsford is the fifth largest Municipality in British Columbia with an estimated population of over 143,000 people. The area has seen significant residential growth in the last decade, and the population is projected to grow by 15% by 2024, adding another 22,689 residents. Over 50% of the population is aged 20 - 59 years old, and the average household income is approximately $76,000 per year.
FORM RETAIL ADVISORS INC.
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33765 ESSENDENE AVE One storey concrete block wall building (circa 1930) complete with full height basement with at grade access from rear lane. The ground floor level features expansively high ceilings (15’ Clear) providing a large and prominent store front. Impressive architectural features of the building include the storefront’s brick facade using material from the Clayburn Brick Factory and impressive wood joist and beam structural floor constructed with large douglas fir timbers. Renovated and upgraded through time, some more recent notable items include:
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HEMINGWAY’S BOOKS Long-term tenant Hemingway’s Books is one of Western Canada’s largest new and used bookstores. As an early adopter to utilize progressive consumer analytic and inventory management software, Hemingway’s has built a reputation as an industry pioneer, servicing collectors both on-line and in person for 25 years.
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FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
PROPERTY DETAILS MUNICIPAL ADDRESS 33765 Essendene Avenue, Abbotsford, BC LEGAL DESCRIPTION (PID) WEST HALF LOT 3 BLOCK 33 SECTION 22 TOWNSHIP 16 NEW WESTMINSTER DISTRICT PLAN 464A (011-567-571) ZONING C7 - Historic Downtown Commercial: accommodates commercial and mixed-Use developments up to four Storeys in height in the Historic Downtown area SITE SIZE 5,400 SF RENTABLE AREA Ground Floor: 4,050 SF - Click for 360o Tour Sub-Grade (9’ (+/-) Clear): 4,050 SF - Click for 360o Tour TENANCY 100% occupied by Hemingway’s Books as per lease expiring April 30, 2021, subject to 2 x 5 Year Options to Renew at Fair Market Rent PARKING 3 Off-Street Parking Stalls accessed by rear lane-way. On-Street Parking on Essendene Ave NET OPERATING INCOME May 2016 - April 2018 $48,000 / Annum May 2018 - April 2020 $50,400 / Annum May 2020 - April 2021 $52,920 / Annum FINANCING Assume Clear Title ASKING PRICE $988,000
FORM RETAIL ADVISORS INC.
FOR SALE FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC Seven Oaks Shopping Centre Highway 11
Highstreet Shopping Centre
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SUBJECT SITE aH
ad
an sC
n Tra
University of the Fraser Valley
Abbotsford International Airport
1 KMHuntingdon Road3 KM
Population
9,012
Households Average Household Income
5 KM
ABBOTSFORD
56,307
104,955
143,318
4,293
22,726
38,914
49,703
$58,105
$72,824
$81,076
$86,359
USA FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET, VANCOUVER, BC V6B 5A6 T 604 638 2121 | F 604 638 2122 | FORM.CA The information contained herein was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors inc.
FORM RETAIL ADVISORS INC.
Sumas Way (29,490 VPD)
2016 ESTIMATES & PROJECTIONS
Vye Road
,
70
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2 98
VP
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
CURTIS LEONHARDT* 604 638 1999 [email protected] FORM RETAIL ADVISORS INC.
*Personal Real Estate Corporation
JON BUCKLEY* 604 630 0215 [email protected]
FOR SALE
so n Fe rg u
W
Ge or ge
PROPERTY HIGHLIGHTS • Leased to long-term tenant Hemingway’s Books, one of Western Canada’s largest new and used bookstores - Click Here for Website • 45 feet of frontage along historic Essendene Avenue, a well known retail strip rejuvenated by recent restoration of its historic buildings • Substantial recent building improvements including installation of new roof, gutters and downspouts in Aug. of 2015 (further improvements noted below)
W ay
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
Ra i
lw
ay
St re
et
VP
D)
SUBJECT SITE
ue
(1
3,
83
7
Off-Street Parking and Loading
2015
• • •
Torch on Roof replacement, along w/ Gutters and Downspouts (20 YR Warranty) High Efficiency AC/Heat Pump System servicing three (3) independent zones 4 Camera Security System Installed. Comprises part of the downtown BIA’s remotely accessible 60 plus camera network covering the downtown core
2011/2012
•
Basement converted from on-line processing and procurement centre to retail space including replacement of interior stairway, rewired electrical and installation of fluorescent light fixtures (T8)
2009
• • •
Installed additional support post to main floor central beam All ground floor light fixtures updated to T8 alon Overhauled and updated storefront including new drywall, insulation, electrical and signage
ABBOTSFORD Abbotsford is the fifth largest Municipality in British Columbia with an estimated population of over 143,000 people. The area has seen significant residential growth in the last decade, and the population is projected to grow by 15% by 2024, adding another 22,689 residents. Over 50% of the population is aged 20 - 59 years old, and the average household income is approximately $76,000 per year.
FORM RETAIL ADVISORS INC.
nd en
M
tro
se
Av e
se
on
Es
33765 ESSENDENE AVE One storey concrete block wall building (circa 1930) complete with full height basement with at grade access from rear lane. The ground floor level features expansively high ceilings (15’ Clear) providing a large and prominent store front. Impressive architectural features of the building include the storefront’s brick facade using material from the Clayburn Brick Factory and impressive wood joist and beam structural floor constructed with large douglas fir timbers. Renovated and upgraded through time, some more recent notable items include:
e
Av en
HEMINGWAY’S BOOKS Long-term tenant Hemingway’s Books is one of Western Canada’s largest new and used bookstores. As an early adopter to utilize progressive consumer analytic and inventory management software, Hemingway’s has built a reputation as an industry pioneer, servicing collectors both on-line and in person for 25 years.
nu
e
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
PROPERTY DETAILS MUNICIPAL ADDRESS 33765 Essendene Avenue, Abbotsford, BC LEGAL DESCRIPTION (PID) WEST HALF LOT 3 BLOCK 33 SECTION 22 TOWNSHIP 16 NEW WESTMINSTER DISTRICT PLAN 464A (011-567-571) ZONING C7 - Historic Downtown Commercial: accommodates commercial and mixed-Use developments up to four Storeys in height in the Historic Downtown area SITE SIZE 5,400 SF RENTABLE AREA Ground Floor: 4,050 SF - Click for 360o Tour Sub-Grade (9’ (+/-) Clear): 4,050 SF - Click for 360o Tour TENANCY 100% occupied by Hemingway’s Books as per lease expiring April 30, 2021, subject to 2 x 5 Year Options to Renew at Fair Market Rent PARKING 3 Off-Street Parking Stalls accessed by rear lane-way. On-Street Parking on Essendene Ave NET OPERATING INCOME May 2016 - April 2018 $48,000 / Annum May 2018 - April 2020 $50,400 / Annum May 2020 - April 2021 $52,920 / Annum FINANCING Assume Clear Title ASKING PRICE $988,000
FORM RETAIL ADVISORS INC.
FOR SALE FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 33765 ESSENDENE AVENUE ABBOTSFORD, BC Seven Oaks Shopping Centre Highway 11
Highstreet Shopping Centre
D)
SUBJECT SITE aH
ad
an sC
n Tra
University of the Fraser Valley
Abbotsford International Airport
1 KMHuntingdon Road3 KM
Population
9,012
Households Average Household Income
5 KM
ABBOTSFORD
56,307
104,955
143,318
4,293
22,726
38,914
49,703
$58,105
$72,824
$81,076
$86,359
USA FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET, VANCOUVER, BC V6B 5A6 T 604 638 2121 | F 604 638 2122 | FORM.CA The information contained herein was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors inc.
FORM RETAIL ADVISORS INC.
Sumas Way (29,490 VPD)
2016 ESTIMATES & PROJECTIONS
Vye Road
,
70
y(
wa
h ig
2 98
VP
