commercial - fraser elliott group

850 SW MARINE DR, VANCOUVER , BC

2.12 ACRE REDEVELOPMENT SITE IN MARPOLE WITH SIGNIFICANT HOLDING INCOME

COMMERCIAL

fraserelliott.com | 604.728.2845

SUBJECT PROPERTY

www.fraserelliott.com | 604.728.2845

850 SW MARINE DRIVE

Centrally located, 92,527 square foot redevelopment property in Marpole with 462 feet of frontage on SW Marine Drive. The subject site is in close proximity to Marine Gateway, Marine Drive Canada Line Station, major thoroughfares, bridges and the YVR Airport. Attactive lease agreement with Vancouver Honda with a net operating income of $990,000 per annum. The property is currently improved with a two-storey (plus basement), automotive-oriented commercial building (45,621 SF), in addition to one single storey, automotive-oriented commercial shop building (2,225 SF). There are 115 surface parking spaces, including 12 customer spaces. A block away, Chard Development and Intracorp are planning future office, industrial and residential projects that are poised to achieve attractive densities.

More information: [email protected] or 604.728.2845

Municipal Address: 850 SW Marine Drive, Vancouver, BC, V6P 5Z1

Legal Description: LOT A, BLOCK C, PLAN VAP18900, DISTRICT LOT 319, GROUP 1, NEW WESTMINSTER

PID: 004-083-024

Year Built: 1975

Frontage on SW Marine: 462 Feet

Land Size: 92,527 SF

Zoning: I-2, Industrial

Community Plan: NCP: Marpole - Oak

Gross Leasable Area: 45,621 SF (2,225 SF contained in an auxiliary shop building, but not including approximately 1,620 SF of tented quonset space)

Zoning Density: 3 FSR

Zoning Buildable: 277,581 SF

NOI (2020): $990,000 per annum

Improvements: One two-storey plus basement, automotive-oriented commercial building in addition to one single storey, automotive-oriented commercial shop building.

Parking: Approximately 115 surface parking spaces, including 12 customer spaces

Construction: Structural steel frame with a mix of precast concrete wall panels, reinforced concrete and concrete block, with stucco and metal panel finishes.

Permitted Uses (Zoning): Manufacturing, service transportation, storage utility, cultural, recreational manufacturing and communication wholesale.

Commute to Marine Gateway

4 Minutes 2 Minute 3 Minutes

Commute to YVR

20 Minutes 6 Minute 17 Minutes


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SUBJECT PROPERTY


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850 SW MARINE DRIVE


850 SW MARINE DRIVE

• Precedent for increased density based on nearby property applications • Highly desirable location in Marpole, Vancouver • Attractive net operating income• Flexible lease agreement with Honda Vancouver • Significant redevelopment potential • Wide variety of permitted uses • 462 feet of frontage on SW Marine • Close proximity to Marine Gateway, major thoroughfares, bridges and the YVR Airport

SUBJECT PROPERTY


850 SW MARINE DRIVE


850 SW MARINE DRIVE

ACTIVE DEVELOPMENT APPLICATIONS

Address Information

750 SW Marine Drive

ActiveApplication Type: Rezoning ApplicationDate: Nov 20, 2020Comment: Virtual Open House – February 22 - March 14, 2021Description: The proposal is to allow for the development of an eight-storey building that includes office, light industrial and at-grade retail uses. The zoning would change from I-2 (Industrial) to CD-1 (Comprehensive Development) District. This proposal includes: - Commercial retail space at grade - Light industrial space on levels 1 and 2 - Office space on levels 3 to 7 - Amenity space on level 8 - A floor space ratio (FSR) of 4.94 - A building height of 35.48 m (116.4 ft.) - 99 vehicle parking spaces and 62 bicycle parking spaces

622 SW Marine Dr

ActiveApplication Type: Rezoning ApplicationDate: Dec 22, 2020Comment: Virtual Open House - March 29-April 18 2021Description: The proposal is to allow for the development of two towers at 28 and 32 storeys on top of two 6-storey podiums separated with a mid-block break. The zoning would change from CD-1 (61) to a new CD-1 (Comprehensive Development) District. This proposal includes: - 573 secured market rental units with 20% of floor space allocated to below-market rental - 35% of the below-market rental floor space provided as social housing operated by the YWCA - A floor space ratio (FSR) of 6.68 - A site area of 6,175.6 sq. m (66,474 sq. ft.) - A building height of 102.2 m (335.3 ft.) - Commercial use at grade with a private daycare on level 2 - 276 vehicle parking spaces and 1096 bicycle parking spaces

8460 Ash Street and 8495 Cambie Street

(Ashley Mar Co-op Site)

ActiveApplication Type: Rezoning ApplicationDate: Jul 08, 2019Comment: A community open house will be held (information to come) with City staff and the applicant team available to answer questions.Description: The City has received an application to rezone 8460 Ash Street and 8495 Cambie Street from RT-2 (Multiple Dwelling) to CD-1 (Comprehensive Development). The proposal consists of a mixed-use development with three towers at 15, 24, and 27 storeys. 1-for-1 replacement of the existing 54 Ashley Mar Housing Co-operative units; 71 additional non-market housing units; 457 secured market rental units; 1 commercial-retail unit; a floor space ratio (FSR) of 7.54; a gross floor area of 45,455 sq. m (489,270 sq. ft.); a maximum building height of 81.5 m (267 ft.); and 309 underground parking spaces and 1,162 bicycle spaces.


850 SW MARINE DRIVE

C O M M E R C I A L

604.728.2845www.fraserelliott.com

commercial - fraser elliott group

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