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Vacant-User

6942 202B Street

6942 202b St, Langley, BC V2Y 1P7

Listing Price: $9,500,000

Cap Rate
4.00%
Gross SF
15,823
Rentable SF
15,823
Price/Gross SF
$600.39
Lot Size
1.16 acres
Year Built
2006

Investment Overview

Marcus & Millichap REIS Canada, Inc. is excited to present the opportunity to purchase a 15,823 SF single-tenant daycare facility located at 6942 202B Street, Langley, B.C. (the “Subject Property”). Located in the desirable residential neighborhood of Willowbrook, the Subject Property is fully tenanted by a daycare facility on a 20-year lease term, with over 11 years of term remaining.

Investment Highlights

  • 1.16 acre site improved with a single-tenant, 15,823 SF, two-storey commercial building in the rapidly growing Township of Langley
  • Fully tenanted by Kids & Company daycare on a 20-year lease, with scheduled rental escalations and one five year option to renew
  • Excellent investment opportunity with current NOI of $380,712, escalating to $396,542 in September 2023, highlighting stable and growing holding income
  • Operating on a completely carefree NNN lease for the landlord. The tenant is responsible for real property taxes, any costs, charges, expenses and outlays of any nature relating to the premises
  • Designated as Multi Family under the Willoughby Community Plan, the Subject Property possesses long term development potential and is encompassed by over 22 submitted multifamily development applications
  • Located on an idyllic, tree-lined street in the desirable residential neighborhood of Willowbrook, a wealthy suburban and family-oriented neighbourhood characterized by families with young children
  • In close proximity to Langley's future SkyTrain extension, which, when completed, will provide daytime commuters efficient access throughout the Lower Mainland and see massive densification in the surrounding area as per 2021 Langley City OCP

Exclusively Listed By

Vacant-User

6942 202B Street

Listing Price: $9,500,000

Cap Rate
4.00%
Gross SF
15,823
Rentable SF
15,823
Price/Gross SF
$600.39
Lot Size
1.16 acres
Year Built
2006

Investment Highlights

  • 1.16 acre site improved with a single-tenant, 15,823 SF, two-storey commercial building in the rapidly growing Township of Langley
  • Fully tenanted by Kids & Company daycare on a 20-year lease, with scheduled rental escalations and one five year option to renew
  • Excellent investment opportunity with current NOI of $380,712, escalating to $396,542 in September 2023, highlighting stable and growing holding income
  • Operating on a completely carefree NNN lease for the landlord. The tenant is responsible for real property taxes, any costs, charges, expenses and outlays of any nature relating to the premises
  • Designated as Multi Family under the Willoughby Community Plan, the Subject Property possesses long term development potential and is encompassed by over 22 submitted multifamily development applications
  • Located on an idyllic, tree-lined street in the desirable residential neighborhood of Willowbrook, a wealthy suburban and family-oriented neighbourhood characterized by families with young children
  • In close proximity to Langley's future SkyTrain extension, which, when completed, will provide daytime commuters efficient access throughout the Lower Mainland and see massive densification in the surrounding area as per 2021 Langley City OCP

Investment Overview

Marcus & Millichap REIS Canada, Inc. is excited to present the opportunity to purchase a 15,823 SF single-tenant daycare facility located at 6942 202B Street, Langley, B.C. (the “Subject Property”). Located in the desirable residential neighborhood of Willowbrook, the Subject Property is fully tenanted by a daycare facility on a 20-year lease term, with over 11 years of term remaining.

Exclusively Listed By

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