Opportunity to acquire a fully-leased, income producing retail plaza with rental escalations and a mid-long term redevelopment potential! The Subject Property is highly visible and easily accessible in North Vancouver’s most prominent retail commercial corridors. The space is being occupied by two well-known & established tenants: a Taekwondo Studio & Daycare Center. Both tenants are signed to brand-new long term net leases with rental escalations throughout the term. In addition, both leases comprise of early termination rights in favour of the landlord. There is excellent holding income with an inherent underlying opportunity for future redevelopment in 8-10 years! The Subject Property is 15,000 SF with 7,350 SF of rentable area. The parking includes 24 underground and 12 surface-level stalls. Competitively priced at $11,325,000 with a 3.25% cap rate. Please do not disturb tenants.
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