for sale | industrial 8550 river road delta, bc
FOR SALE | INDUSTRIAL 8550 RIVER ROAD DELTA, BC
Showroom
ff 3.449 Acre River Road Property ff Owner Will Lease-Back Entire Property For Up To 3 Years or Could Vacate Sooner ff 4.81% Cap Rate Location
Highlights
Park. The site backs on to the new South Fraser Perimeter Road (SFPR) and has views north
ff Numerous buildings on-site
The subject property is located on the south side of River Road just east of Tilbury Industrial of the main channel of the Fraser River.
ff I-2 zoning
ff Close to SFPR and Alex Fraser Bridge
Steve Caldwell
Personal Real Estate Corporation
D 604.895.2224 C 604.809.3122 steve.caldwell@lee–associates.com 475 West Georgia Street, Suite 800 | Vancouver, BC V6B 4M9 | 604.684.7117 | leevancouver.com
FOR SALE | INDUSTRIAL 8550 RIVER ROAD DELTA, BC Legal Description
Water Lot Lease
Westminster District, PID: 001-445-031
comprising 3,660 square metres or nearly an acre. The renewable 5 year
Parcel F, (Explanatory Plan 12202), District Lot 131, Group 2, New
The Vendor has a Water Lot Lease on the main arm of the Fraser River, lease expires February 8, 2019. Current lease rate is $1,138.73/month. The
Zoning
I-2 (Heavy Industrial) – Permitting a wide range of industrial, warehousing, storage, and manufacturing uses.
Lot Size
Water Lot Lease has a paved boat launch ramp and dock space for boats.
Description of Improvements
The site is improved with numerous buildings including the following: Front building: Showroom 3,260 SF
3.449 acres measuring approximately 107 feet wide by over 1,500 feet in depth. The rear third of the site has been filled to near current
geodetic building levels. The balance of the site would need fill in order to construct new buildings at today’s geodetic levels.
Assessments (2017) Land
$3,448,000
Total
$4,318,600
Improvements
$870,600
Property Taxes (2017) $63,627
Asking Price $5,500,000
Cap Rate
4.81% on asking price
Parts area
3,500 SF
Upper floor (offices & 3 rental apt. units)
2,800 SF
Front building total
9,560 SF
*An additional basement area of 6,700 SF for storage is available.
Engine repair shop and additional mechanical shop
4,500 SF
Upholstery shop and inflatable boat shop
3,200 SF
Enclosed storage building
2,000 SF
Total building area
19,260 SF
In addition, there are numerous covered storage sheds at the rear of the property with over 25,000 SF of covered area.
River Rd
Net Revenue
Approximately $265,000 per annum net (vendor lease back).
Tenancies
The vendor (Bridgeview Marine) will enter into a head lease for the
entire property. They operate a sales, parts, and service facility for the pleasure boat industry. In addtition, they provide other services
including dry storage and in-and-out service for over 300 boat storage tenants.
SUBJECT
SFPR Water Lot Lease with paved boat launch ramp and dock space.
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. 02/07/18.
475 West Georgia Street, Suite 800 | Vancouver, BC V6B 4M9 | 604.684.7117 | leevancouver.com
Showroom
ff 3.449 Acre River Road Property ff Owner Will Lease-Back Entire Property For Up To 3 Years or Could Vacate Sooner ff 4.81% Cap Rate Location
Highlights
Park. The site backs on to the new South Fraser Perimeter Road (SFPR) and has views north
ff Numerous buildings on-site
The subject property is located on the south side of River Road just east of Tilbury Industrial of the main channel of the Fraser River.
ff I-2 zoning
ff Close to SFPR and Alex Fraser Bridge
Steve Caldwell
Personal Real Estate Corporation
D 604.895.2224 C 604.809.3122 steve.caldwell@lee–associates.com 475 West Georgia Street, Suite 800 | Vancouver, BC V6B 4M9 | 604.684.7117 | leevancouver.com
FOR SALE | INDUSTRIAL 8550 RIVER ROAD DELTA, BC Legal Description
Water Lot Lease
Westminster District, PID: 001-445-031
comprising 3,660 square metres or nearly an acre. The renewable 5 year
Parcel F, (Explanatory Plan 12202), District Lot 131, Group 2, New
The Vendor has a Water Lot Lease on the main arm of the Fraser River, lease expires February 8, 2019. Current lease rate is $1,138.73/month. The
Zoning
I-2 (Heavy Industrial) – Permitting a wide range of industrial, warehousing, storage, and manufacturing uses.
Lot Size
Water Lot Lease has a paved boat launch ramp and dock space for boats.
Description of Improvements
The site is improved with numerous buildings including the following: Front building: Showroom 3,260 SF
3.449 acres measuring approximately 107 feet wide by over 1,500 feet in depth. The rear third of the site has been filled to near current
geodetic building levels. The balance of the site would need fill in order to construct new buildings at today’s geodetic levels.
Assessments (2017) Land
$3,448,000
Total
$4,318,600
Improvements
$870,600
Property Taxes (2017) $63,627
Asking Price $5,500,000
Cap Rate
4.81% on asking price
Parts area
3,500 SF
Upper floor (offices & 3 rental apt. units)
2,800 SF
Front building total
9,560 SF
*An additional basement area of 6,700 SF for storage is available.
Engine repair shop and additional mechanical shop
4,500 SF
Upholstery shop and inflatable boat shop
3,200 SF
Enclosed storage building
2,000 SF
Total building area
19,260 SF
In addition, there are numerous covered storage sheds at the rear of the property with over 25,000 SF of covered area.
River Rd
Net Revenue
Approximately $265,000 per annum net (vendor lease back).
Tenancies
The vendor (Bridgeview Marine) will enter into a head lease for the
entire property. They operate a sales, parts, and service facility for the pleasure boat industry. In addtition, they provide other services
including dry storage and in-and-out service for over 300 boat storage tenants.
SUBJECT
SFPR Water Lot Lease with paved boat launch ramp and dock space.
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. 02/07/18.
475 West Georgia Street, Suite 800 | Vancouver, BC V6B 4M9 | 604.684.7117 | leevancouver.com
