Subject Property 442 Sixth Street
5th Ave
6th St
www.avisonyoung.com
FOR SALE 442 SIXTH STREET New Westminster, BC
Opportunity to acquire 100% freehold interest in a fully occupied 5,320 sf retail building with secure cash flow and excellent redevelopment potential (FSR 5.2)
Rob Greer*, Principal Gord Robson, Vice President 604.647.5084 604.647.1331 [email protected] [email protected] *Robert Greer Personal Real Estate Corp. 442 Sixth Street New Westminster, BC
PROPERTY SUMMARY OPPORTUNITY INVESTMENT HIGHLIGHTS Avison Young is pleased to present an opportunity to acquire CIVIC ADDRESS 100% freehold interest of 442 Sixth Street, New Westminster, BC Secure cash flow 1.6% vacancy rate Redevelopment 442, 444, 446, 450 Sixth Street (CMHC fall market report 2018) potential up to 5.2 FSR New Westminster, BC (the “Property”). The Property is zoned C-3 (C-3A) which allows for mixed-use developments with a maximum 5.2 FSR. The overall PID’S site size is 8,217 square feet with a potential gross buildable area 013-470-019 Opportunity for mixed-use Close proximity to Walking distance to local 013-470-043 of 42,728 square feet. This offering presents an investor with the development Local Transit and Main schools, shops, parks, Arterials restaurants and cafes 013-470-035 opportunity to acquire a fully-occupied retail building offering ZONING secure cash flow and excellent redevelopment potential. Community Commercial Districts (High Rise) (C-3 & LEASE DETAILS C-3A) – contact listing agents for a full description of the zoning bylaw LOCATION Address 442 444 446 450 SITE AREA Square Feet 1,054 1,023 1,023 2,220 Located in New Westminster’s sought after neighbourhood 8,217 sqf (0.19 acres) Lease Expiry 2020-06-30 2021-01-31 2022-03-31 2020-09-30 Uptown, this property is situated near an abundance of SITE DIMENSIONS amenities. Amenities nearby include Royal City Centre, New COMMUTE TO 83’ x 99’ Westminster Public Library, New Westminster Secondary TRANSIT TO SITE COVERAGE School, Walmart, Anytime Fitness, Save-On-Foods, Shoppers DOWNTOWN DRIVE TO DRIVE TO DRIVE TO NEW WESTMINSTER METROTOWN SURREY CITY CENTRE COQUITLAM CITY CENTRE Drugs Mart, RBC Bank, Tim Hortons, Waves Coffee House and 63.64% (5,320 sf) 7 MINUTES 15 MINUTES 11 MINUTES 25 MINUTES many more. POTENTIAL GROSS DENSITY 5.2 FSR: 42,728 sqf CURRENT NET OPERATING INCOME $95,919 PRICE PER BUILDABLE SQUARE FOOT $98 ASKING PRICE 83’ $4,200,000
99’ MERCER STADIUM PARK e West inster Se ondar S hool th e QUEENS PARK S E S