Commercial Property Commercial Sale, For Sale

1622 Pemberton Avenue

Summary

CIVIC ADDRESS 1622 Pemberton Avenue, District of North Vancouver
PARCEL IDENTIFIER 011-418-532
SITE SIZE 7,920 Sq. Ft.*

*All measurements are approximate

CURRENT ZONING C9 - Marine Drive Commercial
OCP DESIGNATION CRMU1 - Commercial Residential Mixed Use 1
ASSESSED VALUE (2019) $3,365,100
NET OPERATING INCOME $98,087.50 (NOI currently well below market value)
LIST PRICE $4,888,000

The Opportunity

CBRE Limited has been retained by the Owner on an exclusive basis to offer the 100% interest in 1622 Pemberton Avenue, a well-maintained retail building located in the Norgate/Pemberton neighbourhood of North Vancouver. The property is well positioned on a rectangular shaped 7,920 Sq. Ft. site in a high exposure area on the East side of Pemberton Avenue and just slightly south of the Marine Drive Commercial Corridor.

The existing tenant Cloverdale Paint has occupied the building since 2006 and currently holds a lease until 2023, with no option to renew beyond this term, providing an excellent opportunity for a future owner/occupier. The current rent is also well below market rate; please contact agents to further discuss.

With its prime location, the property is well positioned for retail use and may offer future redevelopment and/or assembly potential with the neighbouring property.

Location Highlights

The Property is centrally located on the Southeast corner of Marine Drive and Pemberton Avenue in the District of North Vancouver. Its central location provides access to a variety of shops & services, including: Capilano Mall, Marine Drive Commercial Corridor, Capilano Square, as well as numerous restaurants and banking institutions all within walking distance.

The property is only a 16 minute drive from Downtown Vancouver, and is easily accessible to the rest of Metro Vancouver via the Lion’s Gate Bridge and The Ironworkers Memorial Bridge from the Trans-Canada Highway, or by Transit on the SeaBus passenger Ferry, as well as a number of bus routes with bus stops just steps from the property.

Very Walkable

Walk Score

88

Population (2018)

204,469

Property Photos