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Kingsway 1369-1377 Vancouver, BC
Partnership. Performance.
For Sale Prime Development Opportunity in the heart of the Kingsway Corridor
Michael Buchan*, Vice-President Robert Greer*, Principal 604.647.5079 604.647.5084 [email protected] [email protected] *Personal Real Estate Corporation *Personal Real Estate Corporation Kingsway 1369-1377 Vancouver, BC
Executive Summary Opportunity
Avison Young is pleased to present this rare opportunity to acquire a prime Municipal Addresses 12,128 sf residential development site in the centre of East Vancouver located at 1369 Kingsway 1369 – 1377 Kingsway (the “Property”). The site boasts 99 feet of frontage along 1377 Kingsway Kingsway and is ideal for a mixed-use development.
PID’s 1369 Kingsway – 012-886-254 1377 Kingsway – 005-174-481 Location
Legal Descriptions The property is ideally located on the north side of Kingsway between Knight 1369 Kingsway – LOT I BLOCK 36 DISTRICT Street and Clark Drive in the heart of the transitioning Kingsway Corridor in LOT 301 PLAN 3451 the Kensington Cedar Cottage area of Vancouver. This area is characterized 1377 Kingsway - LOT G EXCEPT PART IN by primarily mixed-use commercial properties along Kingsway east-west and PLAN LMP51635, OF LOTS 8 AND 9 BLOCK 36 residential surrounding directly north and south of Kingsway. DISTRICT LOT 301 GROUP 1 PLAN 3451 The Property’s central Vancouver location offers a 15-minute drive to Downtown Vancouver and a 5 minute drive to Nanaimo SkyTrain Station. It is surrounded by Site Area an abundance of local amenities and sits directly adjacent to the major north- 1369 Kingsway 8,085 sf south thoroughfare, Knight Street. 1377 Kingsway 4,043 sf Total 12,128 sf Accessibility Zoning C-2 General Commercial 92/100 Walker’s Paradise Current Improvements Daily errands do not require a car 1369 Kingsway – single storey commercial property with one tenant 70/100 Excellent Transit 1379 Kingsway – two storey commercial Transit is convenient for most trips property with retail at grade and office above
Total Assessment (2016) 99/100 Biker’s Paradise $5,712,300 Mostly flat, excellent bike lanes
Property Taxes (2016) Source: WalkScore.com 1369 Kingsway – $40,865 1377 Kingsway - $16,892
Net Income (2017 - approx) $120,000 per annum
Asking Price $9,200,000 ($303 pbsf) Kingsway 1369-1377 Vancouver, BC
Investment Highlights
99 Excellent development opportunity in the heart of Kingsway
99 Stunning views to the north and west from a redevelopment
99 Holding income in-place with flexible lease terms
99 Abundance of surrounding amenities
k night s
122.5 ft 99 ft treet
King sway
Development Potential
The intent of this Schedule 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. This Schedule emphasizes building design that furthers compatibility among uses, ensures livability, limits impact on adjacent residential sites, and contributes to pedestrian interest and amenity. The maximum floor space ratio (FSR ) defined in the district schedule is 2.5 times the total site area with a maximum height of 45 feet. The gross buildable area on a redevelopment is 30,320 square feet with the majority being residential density and a portion commercial space, spread over approximately 4-5 storeys. Clark Park Charles Dickens
Elementary
S Knight
Big Brothers of Tyee Elementary
Greater Vancouver treet
Sun Bo Kong Vegetarian Restaurant
Cedar Cottage House Of Dosas Neighbourhood Pub Subject Property
Dollar Tree Midland Liquidators Sushi Wind CIBC Kingsway Hai Phong Vietnamese
Domino’s Pizza Po Kong Pink Peppercorn Pallet Coffee Roasters
Anytime Fitness TD Bank Services Canada Famous Foods Market Ashiana De Dutch Pannekoek House Tandoori E King Edward Avenue White Spot Save-On-Foods
Kingcrest Park
Partnership. Performance.
Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
avisonyoung.com
Michael Buchan*, Vice-President Robert Greer*, Principal © 2017 Avison Young. All rights reserved. 604.647.5079 604.647.5084 E. & O.E.: The information contained herein was obtained from [email protected] [email protected] sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real *Personal Real Estate Corporation *Personal Real Estate Corporation Estate (B.C.) Inc.; DBA, Avison Young.