for sale | development site 2735 east hastings street ...
FOR SALE | DEVELOPMENT SITE 2735 EAST HASTINGS STREET VANCOUVER, BC L E E –A S S O C I AT E S .CO M | 6 0 4 6 8 4 7 1 1 7
ff 16,104 SF Corner Development Site Highlights ff Corner development site ff View property ff Opportunity to increase holding income ff On-site parking
Don Mussenden dir: 604 630 3373 cel: 604 724 0700 [email protected]
FO R SA L E | DEVELOPMENT SIT E 2735 EAST H AST IN GS ST R EET VA NCO U VER, BC
Location
Improvements
The property is located on the northeast corner of East
Main floor
Hastings Street and Slocan Streets in the rapidly upgrading
Second floor
Hastings Sunrise neighbourhood. Hastings Street is a major
Total building area
east-west arterial that provides excellent access to Downtown, Highway 1, Barnet Highway, North Vancouver and Whistler. There is easy bus access to Downtown Vancouver, Simon Fraser University and connections to the Renfrew and 29th Avenue SkyTrain stations. Public amenities in the area include the Vancouver Public Library, Hastings Community Centre and Hastings Park/Pacific National Exhibition (PNE). The site is located at the crest of Hasting Street and there are views from
7,550 SF* 8,178 SF* 15,728 SF*
*Approximate
The site is improved with a two storey commercial building with five retail units on the ground floor and nine second floor office units. There are 28 parking and two loading stalls. Upstairs offices are serviced by roof mounted HVAC units. Some main floor units are independently heated and/or cooled. Most retail units have combined HVAC.
the upper floors of any future redevelopment of the site.
Tenancy and Income The Slocan restaurant lease expires November 30, 2016 and has
Legal Description Lots 29, 30, 31 and 32 of Lot 51 Town of Hastings Suburban Lands Plan 406
given notice of renewal for its one remaining five year renewal lease term. Current lease rate is $28.00 per square foot triple net but no renewal rent has been agreed. All other existing tenancies are month to month.
PID: 015-298-370 PID: 015-298-388
Projected net income is approximately $252,000 to $275,000
PID: 015-298-400
per annum triple net after building clean-up and updating.
PID: 015-298-418
Property Taxes (2016)
Zoning C2C1 (Commercial District) — Uses include retail with limited
$90,518.11
office and residential. Maximum density provides for a permitted floor space ratio (FSR) of 3.0 under the bylaw but
Asking Price
bonus density may be available for the development of the
$11,880,000
property to provide residential rental use.
Site The site is located on the north-east corner of East Hastings and Slocan Streets. Frontage (Hastings Street) Depth (Slocan Street) Total site area
LEE & ASSOCIATES VANCOUVER
132’ 122’ 16,104 SF*
LEE–ASSOCIATES.COM
FO R SA L E | DEVELOPMENT SIT E 2735 EAST H AST IN GS ST R EET VA NCO U VER, BC
SUBJECT
Don Mussenden dir: 604 630 3373 cel: 604 724 0700 [email protected]
LEE & ASSOCIATES VANCOUVER
475 West Georgia Street, Suite 800, Vancouver, BC V6B 4M9
|
604 684 7117
|
lee–associates.com
Disclaimer: Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. © Lee & Associates Commercial Real Estate (BC) Ltd. All Rights Reserved. 09/30/16.
ff 16,104 SF Corner Development Site Highlights ff Corner development site ff View property ff Opportunity to increase holding income ff On-site parking
Don Mussenden dir: 604 630 3373 cel: 604 724 0700 [email protected]
FO R SA L E | DEVELOPMENT SIT E 2735 EAST H AST IN GS ST R EET VA NCO U VER, BC
Location
Improvements
The property is located on the northeast corner of East
Main floor
Hastings Street and Slocan Streets in the rapidly upgrading
Second floor
Hastings Sunrise neighbourhood. Hastings Street is a major
Total building area
east-west arterial that provides excellent access to Downtown, Highway 1, Barnet Highway, North Vancouver and Whistler. There is easy bus access to Downtown Vancouver, Simon Fraser University and connections to the Renfrew and 29th Avenue SkyTrain stations. Public amenities in the area include the Vancouver Public Library, Hastings Community Centre and Hastings Park/Pacific National Exhibition (PNE). The site is located at the crest of Hasting Street and there are views from
7,550 SF* 8,178 SF* 15,728 SF*
*Approximate
The site is improved with a two storey commercial building with five retail units on the ground floor and nine second floor office units. There are 28 parking and two loading stalls. Upstairs offices are serviced by roof mounted HVAC units. Some main floor units are independently heated and/or cooled. Most retail units have combined HVAC.
the upper floors of any future redevelopment of the site.
Tenancy and Income The Slocan restaurant lease expires November 30, 2016 and has
Legal Description Lots 29, 30, 31 and 32 of Lot 51 Town of Hastings Suburban Lands Plan 406
given notice of renewal for its one remaining five year renewal lease term. Current lease rate is $28.00 per square foot triple net but no renewal rent has been agreed. All other existing tenancies are month to month.
PID: 015-298-370 PID: 015-298-388
Projected net income is approximately $252,000 to $275,000
PID: 015-298-400
per annum triple net after building clean-up and updating.
PID: 015-298-418
Property Taxes (2016)
Zoning C2C1 (Commercial District) — Uses include retail with limited
$90,518.11
office and residential. Maximum density provides for a permitted floor space ratio (FSR) of 3.0 under the bylaw but
Asking Price
bonus density may be available for the development of the
$11,880,000
property to provide residential rental use.
Site The site is located on the north-east corner of East Hastings and Slocan Streets. Frontage (Hastings Street) Depth (Slocan Street) Total site area
LEE & ASSOCIATES VANCOUVER
132’ 122’ 16,104 SF*
LEE–ASSOCIATES.COM
FO R SA L E | DEVELOPMENT SIT E 2735 EAST H AST IN GS ST R EET VA NCO U VER, BC
SUBJECT
Don Mussenden dir: 604 630 3373 cel: 604 724 0700 [email protected]
LEE & ASSOCIATES VANCOUVER
475 West Georgia Street, Suite 800, Vancouver, BC V6B 4M9
|
604 684 7117
|
lee–associates.com
Disclaimer: Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. © Lee & Associates Commercial Real Estate (BC) Ltd. All Rights Reserved. 09/30/16.
