Presenting an exceptional opportunity for investors and developers, this property offers over 27,700 square feet of prime re-development land. The highest & best use envisions a one-level commercial/retail space accompanied by the potential for 5 levels of wood-frame residential apartments, all topped off with convenient underground parking. Currently operating as a medical building, the property yields an impressive $200,000 Net Operating Income (NOI) annually, with a modest 40% lot coverage. Positioned at the high-visibility corner of 222nd & Dewdney Trunk Road, this location experiences substantial foot & vehicle traffic, enhancing its commercial viability. The property is currently tenanted with solid leases, each extending for five years, contributing to a reliable and diverse tenant mix. Whether considered as a robust revenue-holding asset or a prime candidate for immediate redevelopment, this offering promises an exciting venture in a thriving and strategic locale. Must be purchased with R2849049 (id:45055)
Business
| BusinessType | Other |
| BusinessSubType | Other |
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Property Details
MLS® Number C8057547 Property Type Vacant Land -
Building
ConstructedDate 1974 SizeInterior 6229 Sqft -
Land
Acreage No SizeIrregular 20282 SizeTotal 20282 Sqft SizeTotalText 20282 Sqft ZoningDescription C-3 -
Rooms
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Utilities
Water At Lot Line
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May 21 2024 02:55:43
Real Estate Board Of Greater Vancouver
RE/MAX Lifestyles Realty
