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Vacant-User

131 West 1st Street

131 W 1st St, North Vancouver, BC V7M 1B1

Listing Price: $4,165,000

Cap Rate
3.00%
Gross SF
3,332
Rentable SF
3,332
Price/Gross SF
$1,250.00
Lot Size
0.08 acres
Year Built
2016

Investment Overview

Marcus & Millichap REIS Canada, Inc. is excited to present a rare opportunity to acquire fully tenanted strata units in the heart of Lower Lonsdale. With extensive frontage on W 1st Street, the units have high visibility and are located only two blocks from Lonsdale Quay and the Seabus Terminal. The 3,332 SF units are currently 100% tenanted by Ride Cycle Club, a Vancouver-based fitness studio, and improvements include a spin studio, two changing rooms and reception area. Offered below-market at $1,250 PSF, this is an exceptional opportunity to purchase stratified retail units in Lower Lonsdale, an exciting neighborhood experiencing rapid growth and densification.

Investment Highlights

  • Single-tenant strata units fully leased to The Ride Cycle Club on a 10-year NNN lease with contractual rent escalations
  • Comprised of two combined strata units that offer ability to demise / reconfigure to accommodate a wide range of uses
  • Offered below-market at $1,250 PSF, free and clear of debt
  • Highly desirable location in Lower Lonsdale, only two blocks from Lonsdale Quay and the Seabus Terminal
  • Street-facing units in an exciting community experiencing rapid economic growth
  • Tenant is responsible for proportionate share of operating costs including strata fees, property taxes, utilities, management fee (3% minimum rent), and all common expenses

Exclusively Listed By

Vacant-User

131 West 1st Street

Listing Price: $4,165,000

Cap Rate
3.00%
Gross SF
3,332
Rentable SF
3,332
Price/Gross SF
$1,250.00
Lot Size
0.08 acres
Year Built
2016

Investment Highlights

  • Single-tenant strata units fully leased to The Ride Cycle Club on a 10-year NNN lease with contractual rent escalations
  • Comprised of two combined strata units that offer ability to demise / reconfigure to accommodate a wide range of uses
  • Offered below-market at $1,250 PSF, free and clear of debt
  • Highly desirable location in Lower Lonsdale, only two blocks from Lonsdale Quay and the Seabus Terminal
  • Street-facing units in an exciting community experiencing rapid economic growth
  • Tenant is responsible for proportionate share of operating costs including strata fees, property taxes, utilities, management fee (3% minimum rent), and all common expenses

Investment Overview

Marcus & Millichap REIS Canada, Inc. is excited to present a rare opportunity to acquire fully tenanted strata units in the heart of Lower Lonsdale. With extensive frontage on W 1st Street, the units have high visibility and are located only two blocks from Lonsdale Quay and the Seabus Terminal. The 3,332 SF units are currently 100% tenanted by Ride Cycle Club, a Vancouver-based fitness studio, and improvements include a spin studio, two changing rooms and reception area. Offered below-market at $1,250 PSF, this is an exceptional opportunity to purchase stratified retail units in Lower Lonsdale, an exciting neighborhood experiencing rapid growth and densification.

Exclusively Listed By

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