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High Exposure Lions Gate Investment/Redevelopment Opportunity

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High Exposure Lions Gate Investment/Redevelopment Opportunity Marine Drive High Exposure Lions Gate Investment/Redevelopment Opportunity FOR SALE | 1790 Marine Drive, North Vancouver | BC PROPERTY FEATURES • Highly desirable, and rarely available Lions Gate Village location • Rare 20,139 SF mid-rise development opportunity • Zoning certainty under the newly adopted District of North Vancouver OCP • Holding income from existing commercial tenants BRIAN MACKENZIE MATT FAWSITT COLLIERS INTERNATIONAL Vice President Investment Sales 200 Granville Street, 19th Floor TEL: 604 661 0829 TEL: 604 692 1493 Vancouver, BC V6C 2R6 [email protected] [email protected] 604 681 4111 www.collierscanada.com Area Demographics - Three KM radius Current Population Average Household Walk Score (2016) Income (2016) 84 40,435 $140,654 Very Walkable Projected Population Occupied Private Downtown Vancouver (2021) Dwellings (2016) 6 minutes 42,847 16,874 Key Highlights • High-exposure corner location in the highly anticipated and • Stable long-term rent structure with built-in increases sought-after Lions Gate Village • Long-term redevelopment potential having residential uses • Located directly on Marine Drive offering unsurpassed access encouraged under the Commercial Residential Mixed-Use to the Downtown core and the North Shore amenities Level 1 OCP Designation • Well-maintained building with Mr. Lube covenant provides • Strong retail and residential demand in the area with the long-term value, investment security and low maintenance accelerated demand for transit-oriented Marine Drive location 122’ 165’ Opportunity This magnificent high traffic retail property is ideally located on the NW corner of Marine Drive and Garden Avenue, one of North Vancouver’s busiest intersections, providing any user with spectacular exposure. Only minutes away from Downtown Vancouver, this location offers convenient access to all local amenities as well as to both HWY1 and the Lions Gate Bridge. This property features a six-bay automotive service building, operating as a Mr. Lube outlet for over 20 years, with extraordinary wide street frontage. The property will be sold with a new 15 year lease in place with Mr. Lube Canada Limited Partnership with fully net operating income, as shown below. Specifications Municipal Address 1790 Marine Drive, North Vancouver Lot L, Block 4, District Lot 764, NWD Legal Address Plan 21477 Net Operating Income PID 009-017-364 Year Rent Amount Site Area 20,139 SF 1 $285,968 The Property is currently improved 2 $292,259 Improvements with an automotive service “quick 3 $298,689 lube” facility and a car wash 4 $305,260 Current Zoning C-9 5 $311,976 Future Land Use Medium Density Mixed-Use 6 $318,839 7 $325,854 FAR 1.75 or 35,243 SF of buildable area 8 $333,023 Gross Taxes (2017) $71,201.51 9 $340,349 Assessed Value (2017) $8,033,500 10 $347,837 11 $355,489 12 $363,310 13 $371,303 Price $10,250,000 14 $379,471 15 $387,820 Brian Mackenzie Matt Fawsitt Vice President Investment Sales TEL: 604 661 0829 TEL: 604 692 1493 [email protected] [email protected] COLLIERS INTERNATIONAL This document/email has been prepared by Colliers International for advertising and general information only. Colliers In- ternational makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information 200 Granville Street, 19th Floor including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, Vancouver, BC V6C 2R6 conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. 604 681 4111 This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2018. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Inc. www.collierscanada.com BS032018.
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