WeSt 41St avenue vancouveR, Bc
Partnership. Performance.
For Sale Rare investment opportunity to acquire a value-add office and retail property in the heart of Kerrisdale.
Michael Buchan*, Vice-President 604.647.5079 [email protected] * Michael Buchan Personal Real Estate Corporation Nabila Lalani, Associate 604.647.1342 [email protected]
Justin Omichinski*, Vice-President 604.646.8387 [email protected] *Justin Omichinski Personal Real Estate Corporation
2309
West 41st avenue vancouver, BC
2309
West 41st Avenue Vancouver, BC
Property Details
Opportunity
Legal Address
Avison Young is pleased to present a rare and exciting opportunity to acquire a four-storey, 20,090 square foot office and retail investment property in the heart of Kerrisdale with underground secured parking. The Property consists of main floor retail fully tenanted, and three (3) floors of office space. The Property is one of few opportunities to acquire commercial property in the prime West 41st Avenue corridor of Kerrisale, and surrounded by an abundance of amenities and prominent retailers such as Starbucks, Shopper’s Drug Mart, Hill’s Kerrisdale, Fouborg, and multiple banks.
2309 W 41st Avenue, Vancouver, B.C.
PID 005-334-551
Legal Description Lot D of Lot 4 Block 17 District Lot 526 Plan 17188
Property
Building Size
✓✓ Premier Kerrisdale address and on the north side of West 41st Avenue
20,090 square feet
✓✓ Value-add opportunity
Site Size
✓✓ Current lease rates are below market
0.19 Acres (8,422 square feet)
Parking Secured Underground Parking with 30 stalls
✓✓ New roof with built-in gutters ✓✓ Investment property 94% leased ✓✓ Providence Security, the main retail and office tenant, secures the building ✓✓ Brand new elevator cylinder installed
Zoning
tr mS lsa
$132,367.50 (2016 tax assessment)
Ba
Property Taxes
eet
C-2 (Commercial) providing for a wide range of commercial uses serving both local and city wide needs.
West 41st Avenue
Assessed Value $13,134,000 (2016 assessment)
Sale Price $18,288,888
Title Free & Clear
Projected Net Operating Income (2017) $450,000
Source: Google
Point Grey Secondary
Dairy Queen/Orange Julius
Purdy’s
Jinya Ramen
McDonald’s
Tim Hortons West Boulevard
West 41st Avenue
Kerrisdale Optical
Cobs Bread
Gap
Kerrisdale Cameras
Caffe Artigiano
RBC CIBC
Faubourg
Location The Property is located mid-block on the north side of West 41st Avenue and considered to be in the epicenter of Kerrisdale. Kerrisdale is a sought after neighbourhood on Vancouver’s west side that is bordered north by West 41st Avenue, south by Southwest Marine Drive, east by Granville Street/Angus Drive and west by Blenheim Street. The Property is located in the heart of Kerrisdale known as “The Village”, the main shopping district and a landmark clock at West Boulevard and West 41st Avenue marks this intersection as the central hub of the neighbourhood.
BMO
BC Liquor Store
PLANNED DESIGN: MATERIALS & LAYOUT GRANVILLE ISLAND
4th Ave
In March 2016, the City purchased the lands known as the “Arbutus Corridor” from Canadian Pacific Railway (CP) for the purpose of creating a transportation greenway.
B
• 4m asphalt path separated into a 2.5m cycling area and a 1.5m walking area
Broadway
FAIRVIEW
• 2m bark mulch path for walking
16th Ave
• 0.5-1.5 m separation between paths*
ARBUTUS RIDGE
A
• 5m asphalt path separated into a 2.5m cycling area and a 2.5m walking area
Granville St
SHAUGHNESSY 33rd Ave
WEST 16TH AVENUE TO WEST 33RD AVENUE • 4m asphalt path separated into a 2.5m cycling area and a 1.5m walking area
41st Ave West Blvd
Subject Property
WEST BROADWAY TO WEST 16TH AVENUE
King Edward Ave
B KERRISDALE
• 2m bark mulch path for walking 49th Ave
• 0.5-1.5 m separation between paths*
SW MARINE
C
WEST 33RD AVENUE TO WEST 41ST AVENUE
SOUTH GRANVILLE
57th Ave
• 5m asphalt path separated into a 2.5m cycling area and a 2.5m walking area
SW
lvd
st B
We
WELCOME!
ine
r Ma
WEST 41ST AVENUE TO MILTON STREET
Dr
The future Arbutus Greenway will encourage people to travel by foot and bike, and ultimately streetcar, and improve access to public green space.
FIR STREET TO WEST BROADWAY
A
KITSILANO
Larch St
The Arbutus Greenway is a future, north-south transportation corridor that will connect False Creek to the Fraser River.
LifeLabs
London Drugs
QUILCHENA
The Future Arbutus Greenway
Nando’s
Oak St
Vancity
TD Bank
Arbutus St
Flight Centre
MacDonald St
Starbucks
vard
Subject Property
ScotiaBank
Sleep Country
East Boule
BCAA
Menchie’s
Town Shoes
Burrard St
Shoppers Drug Mart
Starbucks
MARPOLE
• 2.5m asphalt path for walking LEGEND Arbutus Greenway
ine
SW
r Ma
Dr
• 2.5m asphalt path for cycling • 0.5m-1m separation between paths*
*Separation widths are “typical” and may be reduced or increased based on local conditions.
Source: City of Vancouver; Arbutus Greenway
vancouver.ca/arbutus-greenway
#arbutusgreenway
Downtown Vancouver
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Subject Property 2309 West 41st Avenue
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Partnership. Performance. Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada Michael Buchan*, Vice-President 604.647.5079 [email protected] * Michael Buchan Personal Real Estate Corporation Nabila Lalani, Associate 604.647.1342 [email protected]
Justin Omichinski*, Vice-President 604.646.8387 [email protected] *Justin Omichinski Personal Real Estate Corporation
avisonyoung.com
© 2017 Avison Young. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.; DBA, Avison Young.
For Sale Rare investment opportunity to acquire a value-add office and retail property in the heart of Kerrisdale.
Michael Buchan*, Vice-President 604.647.5079 [email protected] * Michael Buchan Personal Real Estate Corporation Nabila Lalani, Associate 604.647.1342 [email protected]
Justin Omichinski*, Vice-President 604.646.8387 [email protected] *Justin Omichinski Personal Real Estate Corporation
2309
West 41st avenue vancouver, BC
2309
West 41st Avenue Vancouver, BC
Property Details
Opportunity
Legal Address
Avison Young is pleased to present a rare and exciting opportunity to acquire a four-storey, 20,090 square foot office and retail investment property in the heart of Kerrisdale with underground secured parking. The Property consists of main floor retail fully tenanted, and three (3) floors of office space. The Property is one of few opportunities to acquire commercial property in the prime West 41st Avenue corridor of Kerrisale, and surrounded by an abundance of amenities and prominent retailers such as Starbucks, Shopper’s Drug Mart, Hill’s Kerrisdale, Fouborg, and multiple banks.
2309 W 41st Avenue, Vancouver, B.C.
PID 005-334-551
Legal Description Lot D of Lot 4 Block 17 District Lot 526 Plan 17188
Property
Building Size
✓✓ Premier Kerrisdale address and on the north side of West 41st Avenue
20,090 square feet
✓✓ Value-add opportunity
Site Size
✓✓ Current lease rates are below market
0.19 Acres (8,422 square feet)
Parking Secured Underground Parking with 30 stalls
✓✓ New roof with built-in gutters ✓✓ Investment property 94% leased ✓✓ Providence Security, the main retail and office tenant, secures the building ✓✓ Brand new elevator cylinder installed
Zoning
tr mS lsa
$132,367.50 (2016 tax assessment)
Ba
Property Taxes
eet
C-2 (Commercial) providing for a wide range of commercial uses serving both local and city wide needs.
West 41st Avenue
Assessed Value $13,134,000 (2016 assessment)
Sale Price $18,288,888
Title Free & Clear
Projected Net Operating Income (2017) $450,000
Source: Google
Point Grey Secondary
Dairy Queen/Orange Julius
Purdy’s
Jinya Ramen
McDonald’s
Tim Hortons West Boulevard
West 41st Avenue
Kerrisdale Optical
Cobs Bread
Gap
Kerrisdale Cameras
Caffe Artigiano
RBC CIBC
Faubourg
Location The Property is located mid-block on the north side of West 41st Avenue and considered to be in the epicenter of Kerrisdale. Kerrisdale is a sought after neighbourhood on Vancouver’s west side that is bordered north by West 41st Avenue, south by Southwest Marine Drive, east by Granville Street/Angus Drive and west by Blenheim Street. The Property is located in the heart of Kerrisdale known as “The Village”, the main shopping district and a landmark clock at West Boulevard and West 41st Avenue marks this intersection as the central hub of the neighbourhood.
BMO
BC Liquor Store
PLANNED DESIGN: MATERIALS & LAYOUT GRANVILLE ISLAND
4th Ave
In March 2016, the City purchased the lands known as the “Arbutus Corridor” from Canadian Pacific Railway (CP) for the purpose of creating a transportation greenway.
B
• 4m asphalt path separated into a 2.5m cycling area and a 1.5m walking area
Broadway
FAIRVIEW
• 2m bark mulch path for walking
16th Ave
• 0.5-1.5 m separation between paths*
ARBUTUS RIDGE
A
• 5m asphalt path separated into a 2.5m cycling area and a 2.5m walking area
Granville St
SHAUGHNESSY 33rd Ave
WEST 16TH AVENUE TO WEST 33RD AVENUE • 4m asphalt path separated into a 2.5m cycling area and a 1.5m walking area
41st Ave West Blvd
Subject Property
WEST BROADWAY TO WEST 16TH AVENUE
King Edward Ave
B KERRISDALE
• 2m bark mulch path for walking 49th Ave
• 0.5-1.5 m separation between paths*
SW MARINE
C
WEST 33RD AVENUE TO WEST 41ST AVENUE
SOUTH GRANVILLE
57th Ave
• 5m asphalt path separated into a 2.5m cycling area and a 2.5m walking area
SW
lvd
st B
We
WELCOME!
ine
r Ma
WEST 41ST AVENUE TO MILTON STREET
Dr
The future Arbutus Greenway will encourage people to travel by foot and bike, and ultimately streetcar, and improve access to public green space.
FIR STREET TO WEST BROADWAY
A
KITSILANO
Larch St
The Arbutus Greenway is a future, north-south transportation corridor that will connect False Creek to the Fraser River.
LifeLabs
London Drugs
QUILCHENA
The Future Arbutus Greenway
Nando’s
Oak St
Vancity
TD Bank
Arbutus St
Flight Centre
MacDonald St
Starbucks
vard
Subject Property
ScotiaBank
Sleep Country
East Boule
BCAA
Menchie’s
Town Shoes
Burrard St
Shoppers Drug Mart
Starbucks
MARPOLE
• 2.5m asphalt path for walking LEGEND Arbutus Greenway
ine
SW
r Ma
Dr
• 2.5m asphalt path for cycling • 0.5m-1m separation between paths*
*Separation widths are “typical” and may be reduced or increased based on local conditions.
Source: City of Vancouver; Arbutus Greenway
vancouver.ca/arbutus-greenway
#arbutusgreenway
Downtown Vancouver
W
Br est
c ana
oa
da lin
e s ky
train cambi
y dwa
gr a
We
st
Bo
nvil
ul
eva
le s
tree
e stre
et
t
rd
Subject Property 2309 West 41st Avenue
st
W
41
e Av
nu
e
Partnership. Performance. Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada Michael Buchan*, Vice-President 604.647.5079 [email protected] * Michael Buchan Personal Real Estate Corporation Nabila Lalani, Associate 604.647.1342 [email protected]
Justin Omichinski*, Vice-President 604.646.8387 [email protected] *Justin Omichinski Personal Real Estate Corporation
avisonyoung.com
© 2017 Avison Young. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.; DBA, Avison Young.
