for sale - loopnet · of approximately $106,189 (2016). kitsilano is a predominantly residential...

FOR SALEC-2 ZONED INVESTMENT OPPORTUNITY

2951 W 4TH AVENUE | VANCOUVER, BC

FORM RETAIL ADVISORS INC.

Connaught Park

Burrard Street BridgeKitsilano Beach

DOWNTOWN VANCOUVERSTANELY PARK

Kitsilano Secondary School

Burrard Street (38,554 VPD)

W Broadway (24,013 VPD)

MacDonald Street (11,979 VPD)

SUBJECT SITEW 4th Avenue (18,343 VPD)

General GordonElementary School

Bayswater Street

FOR SALEC-2 ZONED MULTI-TENANT INVESTMENT OPPORTUNITY


JACK ALLPRESS*604 638 [email protected]

DAVID MORRIS*604 638 [email protected]

*Personal Real Estate Corporation

DANNY BEN-YOSEF CPA, CA604 398 [email protected]




VANCOUVER INTERNATIONAL

AIRPORT UBC

Kitsilano SecondarySchool

Lord Byng Secondary

Wes

t 4th

Ave

nue

Macdonald Street

Alma Street

Bayswater Street

West Broadway

Connaught Park

Carnarvon Park

Pacific Spirit Regional Park &UBC Endowment Lands

SUBJECT SITE

Jericho Village

PROPERTY HIGHLIGHTS

LOCATION

• Highly desirable Westside address along the northside of West 4th Avenue, East of Bayswater Street

• Ten minute walk to Kitsilano Beach

• Ten minute walk to Jericho Beach

• Ten minute drive to Downtown Vancouver

• Ten minute drive to University of British Columbia (“UBC”)

• Area retailers include Whole Foods Market, Safeway, No Frills, IGA and Shoppers Drug Mart

DEVELOPMENT POTENTIAL

• Current zoning is C-2 which permits up to a 2.5 Floor Space Ratio (to be verified by purchaser)

• Site dimensions of 50 feet of frontage along West 4th Avenue and 113 feet of depth

• Highly desirable neighbourhood with limited supply of new developments coming online

TRANSIT

• The site is on a popular transit route including bus #2 Downtown/MacDonald, #4 Downtown/UBC, #7 Dunbar/Nanaimo Station, #32 Dunbar/Downtown, #44 UBC/Downtown and #84 UBC/VCC Station

• Phase 1 of the Broadway Line would connect VCC-Clark to Arbutus Street; subsequent phases to extend all the way to UBC. It is widely believed that a future station will be located in Broadway and Macdonald area

A rare opportunity to acquire an exceptionally well locatedC-2 zoned property with holding income and future redevelopment potential in the heart of Kitsilano.




SALIENT DETAILS

CIVIC ADDRESS 2951 W 4th Avenue (the “Property”)

PID 014-258-277

LEGAL DESCRIPTION Lot C Block 28 Plan VAP1864 Part1 E District Lot 192 Land District 36 EXC PT IN PL 3964

LOCATION North side of West 4th Avenue, second lot east of Bayswater Street

SITE SIZE Approximately 5,650 SF

SITE DIMENSIONS 50 feet frontage on W 4th AvenueDepth of 113 feet

TRAFFIC COUNTS W 4th Avenue: 18,343 vehicles per day

ZONING C-2: The intent is to provide for a wide range of commercial uses serving both local and city wide needs, as well as residential uses, along arterial streets. The zoning emphasizes building design that furthers compatibility among uses, ensures livability, limits impact on adjacent residential sites, and contributes to pedestrian interest and amenity.

PERMITTED DENSITY Up to 2.5 Floor Space Ratio (to be verified by purchaser)

PROPERTY TAXES (2016) $47,014.52

BC ASSESSMENT (2016) Land: $5,019,000 Improvement: $5,300Actual Total: $5,024,300

FINANCING Clear Title

CURRENT NET OPERATING INCOME

$74,670.96 per annum(Leases have annual escalations built in after 2018)

ASKING PRICE $7,888,000

Point Grey Road

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W 4th Avenue

SUBJECT SITE




MARKET OVERVIEW

The highly coveted neighbourhood of Kitsilano, located between the affluent areas of West Point Grey and Fairview in Vancouver’s Westside, is home to a relatively wealthy and young population with a dominant age between 25 to 34 and an average household incomes of approximately $106,189 (2016). Kitsilano is a predominantly residential area with West Broadway and West 4th Avenue being the two main commercial arterials. The benchmark for single detached homes in Vancouver’s Westside is approximately $3,550,000 (September, 2016). Kitsilano is known for its young active population, as well as its shopping, restaurants, and proximity to UBC, beaches and the downtown core. West 4th Avenue is the primary shopping street for youthful fashion and outdoor sporting goods, serving the entire “West Side” of Vancouver.

CONNECTING VCC-CLARK TO ARBUTUS STREET

FUTURE

W 4TH AVENUESHOPPING NODE

8 BLOCKS OF SHOPS ANDSERVICES ON THE WEST SIDE

64,000+HOUSEHOLDS

$106,189+HOUSEHOLD INCOME

WITHIN 3KM RADIUSWITHIN A 3KM RADIUS

BROADWAY LINE




FOR SALEC-2 ZONED MULTI-TENANT INVESTMENT OPPORTUNITY


All communications and inquiries related to this opportunity, or requests for additional information or requests regarding procedures, must be made to the Form Retail Advisors Inc. agents named on the first page. No personnel of the Vendor or any of its affiliates should be contacted directly under any circumstance.

Disclaimer: None of the Vendor, its affiliates, Form Retail Advisors Inc. or any of their respective representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and interested parties should conduct their own independent analysis of the information contained or referred to herein. Nothing contained in this document is, or should be relied on as, a promise or representation, whether as to the past or the future. The Vendor, its affiliates, Form Retail Advisors Inc. and their respective representatives are under no obligation to accept any offer made by any person or entity regarding this opportunity.

FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREETVANCOUVER, BC V6B 5A6

T 604 638 2121 F 604 638 2122FORM.CA

Jericho Beach

Kitsilano Beach

Granville Island Public Market

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West Broadway

Bu

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W 4th Avenue

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SUBJECT SITE

DOWNTOWN VANCOUVER

STANLEY PARK

2016 ESTIMATES 1 KM 3 KM 5 KM 10 MIN DRIVE

Population 20,905 122,763 291,662 277,498

Households 10,944 64,617 149,727 144,838

Average Household Income $105,324 $106,189 $105,801 $103,798

* Scores are measured on how well a location is positioned by the following categories. For more information on scores and methodology visit https://www.walkscore.com/methodology.shtml.

TRANSIT SCORE: 72*

WALKING SCORE: 94*

EXCELLENT TRANSIT

WALKER’S PARADISE

BIKER’S PARADISEBIKE SCORE: 100*

for sale - loopnet · of approximately $106,189 (2016). kitsilano is a predominantly residential...

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