Executive Summary 1549 Johnston Road V2
EXECUTIVE SUMMARY 1549 Johnston Road, White Rock, BC
Merklin St
COMMUNITY CENTRE
Fir St
Russel Ave
PLAYHOUSE
George St
Subject Property
16th Ave / North Bluff Rd Johnson Rd / 152nd St
Foster St
Martin St
16th Ave / North Bluff Rd
AURA
Thrift Ave
Chris Walters [email protected] p: 778-668-4080
Thrift Ave
Dean Bauman [email protected] p: 604.541.4856
The information contained herein is intended for informational purposes only and should not be relied upon by recipients hereof. Although the information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by RE/MAX Commercial. All information is to be verified by the recipient.
EXECUTIVE SUMMARY 1549 Johnston Road, White Rock, BC
Civic Address:
1549 Johnston Rd. Whiterock, B.C.
Legal Description:
Plan 8146, Lot 4, Block 7, LD 36, Sec. 10, Twp 1, PID: 011-293-926.
Lot Size:
20,922 sq.ft. , .48 acres. The site is mid block on the west side of Johnston Rd. and is essentially square in dimension.
Zoning:
Currently CR-1 but is a DD downtown town centre commercial core designation allowing hi rise residential development. FSR = 5 5.5x based on existing projects in the market including Bosa Properties Miramar and the Avra which are 18 stories. Current city officials seem to be supportive of increased height and density above 18 stories and greater than a 5.5 FSR.
Project Yield Total Buildable Area:
20,922 sq.ft. x 5.5 = 115,071 sq.ft. buildable.
Residential Area: Commercial Area:
Up to 20 stories
Parking:
Existing Parking is 27 stalls on the surface.
Opportunity:
The opportunity is to purchase a AAA quality hirise development property which is an existing retail commercial property in the very centre of Whiterock. The property will provide stable holding income from 3 professional tenants.
First floor or first and second floor footprints.
There are two buildings with 3 tenants. Dr. Barker a dentist. Peace Arch medical clinic and a pharmacy. See attached rent roll.
2014 assessment:
Land : Bldng: Total:
$1,778,000 $1,590,000 $3,368,000
Roof / HVAC:
New roof replaced in 2010. Mechanical completely overhauled in 2010
Chris Walters [email protected] p: 778-668-4080
Dean Bauman [email protected] p: 604.541.4856
EXECUTIVE SUMMARY 1549 Johnston Road, White Rock, BC
Rent Roll Tenant
Size/Rate psf
Lease Exp.
Annual rent
Dr. Barker, Dentist
2456 sq.ft. /$25.00
Jul 2017
$61,400
Family Care Pharmacy
2931 sq.ft. /$25.00
Oct 2015
$73,272
Peace Arch Medical Clinic
1734 sq.ft. /$25.00
Oct 2015
$43,350
Family Practise Society
1844 sq.ft. /$25.00
Oct 2015
$46,100
Total
8965 sq.ft.
$224,122
All tenants have 1 x 5 year option to renew. All tenants pay the Landlord a management fee of 4% of base rent.
Price $6,500,000 3.5% Cap Rate $56.50 per buildable
Chris Walters [email protected] p: 778-668-4080
Dean Bauman [email protected] p: 604.541.4856
Merklin St
COMMUNITY CENTRE
Fir St
Russel Ave
PLAYHOUSE
George St
Subject Property
16th Ave / North Bluff Rd Johnson Rd / 152nd St
Foster St
Martin St
16th Ave / North Bluff Rd
AURA
Thrift Ave
Chris Walters [email protected] p: 778-668-4080
Thrift Ave
Dean Bauman [email protected] p: 604.541.4856
The information contained herein is intended for informational purposes only and should not be relied upon by recipients hereof. Although the information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by RE/MAX Commercial. All information is to be verified by the recipient.
EXECUTIVE SUMMARY 1549 Johnston Road, White Rock, BC
Civic Address:
1549 Johnston Rd. Whiterock, B.C.
Legal Description:
Plan 8146, Lot 4, Block 7, LD 36, Sec. 10, Twp 1, PID: 011-293-926.
Lot Size:
20,922 sq.ft. , .48 acres. The site is mid block on the west side of Johnston Rd. and is essentially square in dimension.
Zoning:
Currently CR-1 but is a DD downtown town centre commercial core designation allowing hi rise residential development. FSR = 5 5.5x based on existing projects in the market including Bosa Properties Miramar and the Avra which are 18 stories. Current city officials seem to be supportive of increased height and density above 18 stories and greater than a 5.5 FSR.
Project Yield Total Buildable Area:
20,922 sq.ft. x 5.5 = 115,071 sq.ft. buildable.
Residential Area: Commercial Area:
Up to 20 stories
Parking:
Existing Parking is 27 stalls on the surface.
Opportunity:
The opportunity is to purchase a AAA quality hirise development property which is an existing retail commercial property in the very centre of Whiterock. The property will provide stable holding income from 3 professional tenants.
First floor or first and second floor footprints.
There are two buildings with 3 tenants. Dr. Barker a dentist. Peace Arch medical clinic and a pharmacy. See attached rent roll.
2014 assessment:
Land : Bldng: Total:
$1,778,000 $1,590,000 $3,368,000
Roof / HVAC:
New roof replaced in 2010. Mechanical completely overhauled in 2010
Chris Walters [email protected] p: 778-668-4080
Dean Bauman [email protected] p: 604.541.4856
EXECUTIVE SUMMARY 1549 Johnston Road, White Rock, BC
Rent Roll Tenant
Size/Rate psf
Lease Exp.
Annual rent
Dr. Barker, Dentist
2456 sq.ft. /$25.00
Jul 2017
$61,400
Family Care Pharmacy
2931 sq.ft. /$25.00
Oct 2015
$73,272
Peace Arch Medical Clinic
1734 sq.ft. /$25.00
Oct 2015
$43,350
Family Practise Society
1844 sq.ft. /$25.00
Oct 2015
$46,100
Total
8965 sq.ft.
$224,122
All tenants have 1 x 5 year option to renew. All tenants pay the Landlord a management fee of 4% of base rent.
Price $6,500,000 3.5% Cap Rate $56.50 per buildable
Chris Walters [email protected] p: 778-668-4080
Dean Bauman [email protected] p: 604.541.4856
