East 8th avEnuE vaNcOUveR, Bc
Partnership. Performance.
for sale Rare Mixed-Use Development Opportunity located in the high growth Mount Pleasant Neighbourhood.
Mehdi Shokri, Principal 604.647.1355 [email protected]
138
East 8th Avenue vancouver, BC
138
east 8th avenue Vancouver, BC
Executive Summary Area
5,612 sf
FSR 3.3
Potential Density 18,519.6 sf
Available
Immediately
Sale Price $6,500,000
Zoning C-3A
Parcel Identifier 015-539-130
Legal Description
PL VAP197 LT 5 BLK 51 DL 200A LD 36
Property Tax $39,994.43
* All areas and measurements are approximate and should be independently verified.
Location The subject property is located in the Uptown shopping area of the Mount Pleasant region, between Main and Quebec Street along East 8th Avenue. Mount Pleasant has seen an immense amount of growth and redevelopment in recent years, with the OCP specifically permitting a re-vamp of the Main Street, Kingsway and Broadway Corridors. Specifically this site is located across the street from Fifth Avenue’s recently completed 6-storey mixed-use development, Collection45. Additionally, 138 East 8th is located adjacent to an area coined as Mount Pleasant’s “heritage heart”, which is the area bounded by Main Street, Kingsway and East Broadway. The OCP states this area as a “Cultural District”, and has planned this area to be a central gathering place and cultural centre.
Building & Zoning The subject property consists of a narrow single storey building with parking located at the rear of the building. The property is currently zoned C-3A, which permits a wide range of commercial uses and maximum density of a 3.3 FSR and a max height of 9 metres. Addtionally, the Development Permit Board may consider this site suitable for a Multiple Dwelling development, which would allow potentially increased density and building height.
Accessibility to Transit 138 East 8th features excellent access to public transportation, with numerous bus stops located along East Broadway. Upon completion to the extension of the Millennium Broadway SkyTrain Line, 138 East 8th will be located one block away from the Main and Broadway Street Station. To add, the OCP has identified a possible street car extension along Main Street, which would directly service 138 East 8th.
Recent Residential Developments in Mount Pleasant Mount Pleasant has seen a significant shift from its once industrial setting to a thriving young neighbourhood. With the high demand for housing outside the Downtown Core, Mount Pleasant has caught the eye of numerous residential developers and as such, the area has seen a significant conversion in both zoning and land use from ICI-Land to CD and C-3A zoning. In terms of completed and sold-out concrete condominium projects, there have been 5 developments, in close proximity to the subject property, which have sold-out at per square foot rates of $540 - $700. Additionally, there is another active concrete condominium project, within a couple of blocks of the subject property, which is currently being marketed at $925 per square foot.
Nearby Amenities 138 East 8th boasts excellent exposure to a number of dining and retail amenities, as Mount Pleasant has grown into one of Vancouver’s primary brewery and shopping districts. Particularly, 138 East 8th is within walking distance to 7 different local breweries including: Big Rock Urban Brewery, 33 Acres Brewing Company, Main Street Brewery, Faculty Brewing, Steel Toad Brewery, R&B Brewing and Red Truck Beer Company. Additionally, 138 East 8th is conveniently located within close proximity to Olympic Village, one of Vancouver’s newest neighbourhoods, consisting of superb dining and retail amenities.
2nd Avenue
5
4
7 Main Street
6
1
Shine District
2
3 Ellsworth
Collection45
138 E 8th Avenue
ay sw
ng Ki
Broadway
The Wohlsein
The Independent
Sold-Out Condominium Project Active Concrete Condominium Project Subject Property Cultural District
1. Big Rock Urban Brewery
3. Main Street Brewing
5. Steel Toad Brewery
2. 33 Acres Brewing Company
4. Faculty Brewing
6. R&B Brewing
7. Red Truck Beer Company
Downtown Vancouver
Main Street/ Science World SkyTrain Station
m Ca
bi
t re eS
t re e t M ain S
Olympic Village SkyTrain Station
et
Broadway/City Hall SkyTrain Station
West Br
o adw
ay
Subject Property 138 East 8th Avenue
Partnership. Performance. Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
avisonyoung.com © 2016 Avison Young. All rights reserved.
Mehdi Shokri, Principal 604.647.1355 [email protected]
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 Mixed-Use Development Opportunity located in the high growth Mount Pleasant Neighbourhood.
Mehdi Shokri, Principal 604.647.1355 [email protected]
138
East 8th Avenue vancouver, BC
138
east 8th avenue Vancouver, BC
Executive Summary Area
5,612 sf
FSR 3.3
Potential Density 18,519.6 sf
Available
Immediately
Sale Price $6,500,000
Zoning C-3A
Parcel Identifier 015-539-130
Legal Description
PL VAP197 LT 5 BLK 51 DL 200A LD 36
Property Tax $39,994.43
* All areas and measurements are approximate and should be independently verified.
Location The subject property is located in the Uptown shopping area of the Mount Pleasant region, between Main and Quebec Street along East 8th Avenue. Mount Pleasant has seen an immense amount of growth and redevelopment in recent years, with the OCP specifically permitting a re-vamp of the Main Street, Kingsway and Broadway Corridors. Specifically this site is located across the street from Fifth Avenue’s recently completed 6-storey mixed-use development, Collection45. Additionally, 138 East 8th is located adjacent to an area coined as Mount Pleasant’s “heritage heart”, which is the area bounded by Main Street, Kingsway and East Broadway. The OCP states this area as a “Cultural District”, and has planned this area to be a central gathering place and cultural centre.
Building & Zoning The subject property consists of a narrow single storey building with parking located at the rear of the building. The property is currently zoned C-3A, which permits a wide range of commercial uses and maximum density of a 3.3 FSR and a max height of 9 metres. Addtionally, the Development Permit Board may consider this site suitable for a Multiple Dwelling development, which would allow potentially increased density and building height.
Accessibility to Transit 138 East 8th features excellent access to public transportation, with numerous bus stops located along East Broadway. Upon completion to the extension of the Millennium Broadway SkyTrain Line, 138 East 8th will be located one block away from the Main and Broadway Street Station. To add, the OCP has identified a possible street car extension along Main Street, which would directly service 138 East 8th.
Recent Residential Developments in Mount Pleasant Mount Pleasant has seen a significant shift from its once industrial setting to a thriving young neighbourhood. With the high demand for housing outside the Downtown Core, Mount Pleasant has caught the eye of numerous residential developers and as such, the area has seen a significant conversion in both zoning and land use from ICI-Land to CD and C-3A zoning. In terms of completed and sold-out concrete condominium projects, there have been 5 developments, in close proximity to the subject property, which have sold-out at per square foot rates of $540 - $700. Additionally, there is another active concrete condominium project, within a couple of blocks of the subject property, which is currently being marketed at $925 per square foot.
Nearby Amenities 138 East 8th boasts excellent exposure to a number of dining and retail amenities, as Mount Pleasant has grown into one of Vancouver’s primary brewery and shopping districts. Particularly, 138 East 8th is within walking distance to 7 different local breweries including: Big Rock Urban Brewery, 33 Acres Brewing Company, Main Street Brewery, Faculty Brewing, Steel Toad Brewery, R&B Brewing and Red Truck Beer Company. Additionally, 138 East 8th is conveniently located within close proximity to Olympic Village, one of Vancouver’s newest neighbourhoods, consisting of superb dining and retail amenities.
2nd Avenue
5
4
7 Main Street
6
1
Shine District
2
3 Ellsworth
Collection45
138 E 8th Avenue
ay sw
ng Ki
Broadway
The Wohlsein
The Independent
Sold-Out Condominium Project Active Concrete Condominium Project Subject Property Cultural District
1. Big Rock Urban Brewery
3. Main Street Brewing
5. Steel Toad Brewery
2. 33 Acres Brewing Company
4. Faculty Brewing
6. R&B Brewing
7. Red Truck Beer Company
Downtown Vancouver
Main Street/ Science World SkyTrain Station
m Ca
bi
t re eS
t re e t M ain S
Olympic Village SkyTrain Station
et
Broadway/City Hall SkyTrain Station
West Br
o adw
ay
Subject Property 138 East 8th Avenue
Partnership. Performance. Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
avisonyoung.com © 2016 Avison Young. All rights reserved.
Mehdi Shokri, Principal 604.647.1355 [email protected]
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.
