2916 Lonsdale Avenue is a ± 7,350 SF retail plaza centrally located on Lonsdale Avenue, one of North Vancouver’s most prominent retail commercial corridors. The Subject Property is also located within a very affluent residential neighbourhood, is steps to public transportation, and is only 3 blocks north of the entrance to Highway 1, providing excellent connectivity to Downtown Vancouver and nearby municipalities.
- Highly visible and easily accessible ± 7,350 SF retail plaza, strategically positioned on a large ±15,000 SF corner site with approximately 120’ feet of frontage on Lonsdale Avenue;
- Currently 100% leased to 2 tenants: an established Taekwondo studio who’s historically been a long-term tenant at this property and throughout North Vancouver, and a Daycare Center, an extremely sought-after service in North Vancouver, which will be owned by an experienced operator who’s well known and highly regarded in the child care community;
- Both tenants are signed to brand new long-term net leases with rental escalations throughout the term and comprise of early termination rights in favour the landlord;
- Lonsdale Retail Plaza is well located in Upper Lonsdale with a bus stop directly across the street, providing quick and easy transportation to and from Lonsdale Quay Market & the Seabus, which quickly connects to Waterfront Station in Downtown Vancouver in just 12 minutes;
- The property provides surface level parking and is built over top of a below-grade parking lot, providing approximately 36 parking spots;
- The property is identified within the District of North Vancouver’s OCP, providing basis for future re-development;
- The property is held in a bare trust and offers potential PPT Savings.
This offering provides an exceptional opportunity for excellent holding income with an inherent underlying opportunity for future re-development in 8-10 years.
The Subject Property is designated as Commercial Residential Mixed Use Level 1 (CRMU1). Areas designated for CRMU1 are intended predominantly for general commercial purposes, such as retail, service and offices throughout the District. Residential uses above commercial uses at street level are generally encouraged. Development in this designation allow for a 4-storey mixed-use development up to approx. 1.75 FSR. The property’s location will also provide exceptional views of Downtown Vancouver from the upper floors.