west 7th avenue vancouver, bc
Partnership. Performance.
FOR SALE 16,000-square-foot, two-level building located in the highly coveted Mount Pleasant commercial area of Vancouver.
Struan Saddler, Senior Associate 604.647.5077 [email protected]
Jason Mah, Vice-President 604.647.5096 [email protected]
195
WEST 7TH AVENUE VANCOUVER, BC
195
WEST 7TH AVENUE VANCOUVER, BC
Property Summary
Development Potential The subject site is located within the City of Vancouver’s I-1 zoning district schedule, and subsequently within this district, a Floor Space Ratio (FSR) of 3.0 can be applied on any new development. The premises are currently built-out to contain approximately 15,954 square feet (sf)—applied to the site size would derive 29,850 sf, thus the subject site as it stands is underbuilt by 13,896 sf.
Address
195 West 7th Avenue
PID
014-683-083
Location
Year Built
1968 (per BC Assessment)
Building Size First floor
7,977 sf*
Second floor
7,977 sf*
Total
15,954 sf
* Approximate
Site Size
9,949.91 sf (81.55' x 122.01')
The property is located just three blocks east of Cambie Street and two blocks north of Broadway. The site is a seven-minute walk from Broadway/City Hall SkyTrain station, and an eight-minute walk to the Olympic Village SkyTrain Station. Amenities such as Whole Foods, Save-On-Foods, Home Depot, Canadian Tire, Milestones and Cactus Club are just a few of the nearby options.
Mount Pleasant Zoning Amendments In early 2013, in an effort to increase the job space potential and enhance the use of sites that were previously used for light industrial or mixed use, the City of Vancouver relaxed zoning regulations by allowing for and encouraging higher amounts of office use. In the past, the area was limited to primarily production, distribution and repair uses.
Floor Space Ratio
Owners now have a more accommodating process with the city when applying for denser uses including post production, R & D, engineering, high technology, health and legal office uses and even accounting.
Zoning
This relaxation of the zoning bylaws will allow for vendors in the Mount Pleasant area to compete with the traditional office uses along the Broadway Corridor and even the Downtown markets (including Yaletown and Gastown), thereby putting upward pressure on rental rates, and in turn, providing higher profits for owners in the area.
3 (29,849.73 sf)
I-1 (Light Industrial - General Office Wholesale - Production - Retail)
Tenants
Arbutus Furniture, Colorific Printing
Property Highlights
Property Taxes (2013)
-- Corner property
-- Views of downtown Vancouver
-- Two existing tenants
-- 7-year-old roof (torch on, under warranty)
$33,948.97
Price
$6,500,000
-- Fir beams throughout the first and second floors
-- Dock-and-grade level loading Image from Vanmap
Floor Plans First floor
Second floor
Loading Loading
ROBSON GASTOWN
LL
E
ST
.
WEST END
Dock-level Loading
CHINATOWN
HO
M
ER
ST .
GR
AN
VI
Loading above
YALETOWN
CAMBIE ST.
BROADWAY
Subject Property 195 West 7th Avenue
BROADWAY
BROADWAY
BROADWAY
Downtown Vancouver
Main Street/ Science World SkyTrain Station
Ca
m
bi
t re eS
Broadway/City Hall SkyTrain Station
et
West Br
t re et Main S
Olympic Village SkyTrain Station
Subject Property 195 West 7th Avenue
oadw
ay
Partnership. Performance. Avison Young Commercial Real Estate Inc. #2100-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada avisonyoung.com
© 2014 Avison Young (Canada) Inc. All rights reserved.
Struan Saddler, Senior Associate 604.647.5077 [email protected]
Jason Mah, Vice-President 604.647.5096 [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 (BC) Inc.
FOR SALE 16,000-square-foot, two-level building located in the highly coveted Mount Pleasant commercial area of Vancouver.
Struan Saddler, Senior Associate 604.647.5077 [email protected]
Jason Mah, Vice-President 604.647.5096 [email protected]
195
WEST 7TH AVENUE VANCOUVER, BC
195
WEST 7TH AVENUE VANCOUVER, BC
Property Summary
Development Potential The subject site is located within the City of Vancouver’s I-1 zoning district schedule, and subsequently within this district, a Floor Space Ratio (FSR) of 3.0 can be applied on any new development. The premises are currently built-out to contain approximately 15,954 square feet (sf)—applied to the site size would derive 29,850 sf, thus the subject site as it stands is underbuilt by 13,896 sf.
Address
195 West 7th Avenue
PID
014-683-083
Location
Year Built
1968 (per BC Assessment)
Building Size First floor
7,977 sf*
Second floor
7,977 sf*
Total
15,954 sf
* Approximate
Site Size
9,949.91 sf (81.55' x 122.01')
The property is located just three blocks east of Cambie Street and two blocks north of Broadway. The site is a seven-minute walk from Broadway/City Hall SkyTrain station, and an eight-minute walk to the Olympic Village SkyTrain Station. Amenities such as Whole Foods, Save-On-Foods, Home Depot, Canadian Tire, Milestones and Cactus Club are just a few of the nearby options.
Mount Pleasant Zoning Amendments In early 2013, in an effort to increase the job space potential and enhance the use of sites that were previously used for light industrial or mixed use, the City of Vancouver relaxed zoning regulations by allowing for and encouraging higher amounts of office use. In the past, the area was limited to primarily production, distribution and repair uses.
Floor Space Ratio
Owners now have a more accommodating process with the city when applying for denser uses including post production, R & D, engineering, high technology, health and legal office uses and even accounting.
Zoning
This relaxation of the zoning bylaws will allow for vendors in the Mount Pleasant area to compete with the traditional office uses along the Broadway Corridor and even the Downtown markets (including Yaletown and Gastown), thereby putting upward pressure on rental rates, and in turn, providing higher profits for owners in the area.
3 (29,849.73 sf)
I-1 (Light Industrial - General Office Wholesale - Production - Retail)
Tenants
Arbutus Furniture, Colorific Printing
Property Highlights
Property Taxes (2013)
-- Corner property
-- Views of downtown Vancouver
-- Two existing tenants
-- 7-year-old roof (torch on, under warranty)
$33,948.97
Price
$6,500,000
-- Fir beams throughout the first and second floors
-- Dock-and-grade level loading Image from Vanmap
Floor Plans First floor
Second floor
Loading Loading
ROBSON GASTOWN
LL
E
ST
.
WEST END
Dock-level Loading
CHINATOWN
HO
M
ER
ST .
GR
AN
VI
Loading above
YALETOWN
CAMBIE ST.
BROADWAY
Subject Property 195 West 7th Avenue
BROADWAY
BROADWAY
BROADWAY
Downtown Vancouver
Main Street/ Science World SkyTrain Station
Ca
m
bi
t re eS
Broadway/City Hall SkyTrain Station
et
West Br
t re et Main S
Olympic Village SkyTrain Station
Subject Property 195 West 7th Avenue
oadw
ay
Partnership. Performance. Avison Young Commercial Real Estate Inc. #2100-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada avisonyoung.com
© 2014 Avison Young (Canada) Inc. All rights reserved.
Struan Saddler, Senior Associate 604.647.5077 [email protected]
Jason Mah, Vice-President 604.647.5096 [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 (BC) Inc.
