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Urban-High Street

1708 Douglas Street

1708 Douglas St, Victoria, BC V8W 2G7

Listing Price: $1,500,000

Cap Rate
3.48%
Gross SF
3,300
Rentable SF
3,300
Price/Gross SF
$454.55
Lot Size
0.14 acres
Year Built
1958

Investment Overview

We are pleased to present the opportunity to acquire 1708 Douglas Street, Victoria, B.C. (the “Subject Property”), a fully leased retail income-producing asset prominently located in the heart of Downtown Victoria. The Subject property presents a rare opportunity to acquire a freehold parcel in a highly desirable location within Victoria’s densifying downtown city-centre. The Subject Property is positioned strategically across from the Hudson and Victoria Public Market, and near Victoria’s historic Chinatown, benefiting from consistent year-round pedestrian traffic.

Investment Highlights

  • Rarely available fully leased multi-tenant retail building with 50 feet of frontage along Douglas Street providing a strong level of street-front retail exposure.
  • The Subject Property benefits from a long-standing, stable income with a well-established track record of occupancy, tenanted by Red Mirror Salon, who have been operating at the location since 1987.
  • Opportunity for an investor to increase future income by converting the gross lease to a landlord-friendly net lease or for an owner user to gain access through strategic negotiations.
  • The Subject Property is positioned on the northern edge of Downtown, an area that is benefiting from ongoing development including Denciti's approved Spencer Block (278 units), which is half a block to the north along Herald Street, and Reliance Properties' highly anticipated redevelopment of the Capital Irons site at Chatham Street and Government Street.
  • The demographics within a 1-kilometer radius of the property are impressive, boasting over 17,000 individuals across 10,000 residences; 71% are renters. Anticipated growth of 14.90% by 2027 signals a promising future for economic expansion and development in the area.
  • The Subject Property is situated within the Downtown Core Area, which aims to remain as the Capital Region's primary economic, social, arts, cultural, and entertainment centre. The Subject Property is designated for up to 3.0x FSR, with permitted uses supporting retail at grade and residential dwellings on the upper storeys.

Exclusively Listed By

Urban-High Street

1708 Douglas Street

Listing Price: $1,500,000

Cap Rate
3.48%
Gross SF
3,300
Rentable SF
3,300
Price/Gross SF
$454.55
Lot Size
0.14 acres
Year Built
1958

Investment Highlights

  • Rarely available fully leased multi-tenant retail building with 50 feet of frontage along Douglas Street providing a strong level of street-front retail exposure.
  • The Subject Property benefits from a long-standing, stable income with a well-established track record of occupancy, tenanted by Red Mirror Salon, who have been operating at the location since 1987.
  • Opportunity for an investor to increase future income by converting the gross lease to a landlord-friendly net lease or for an owner user to gain access through strategic negotiations.
  • The Subject Property is positioned on the northern edge of Downtown, an area that is benefiting from ongoing development including Denciti's approved Spencer Block (278 units), which is half a block to the north along Herald Street, and Reliance Properties' highly anticipated redevelopment of the Capital Irons site at Chatham Street and Government Street.
  • The demographics within a 1-kilometer radius of the property are impressive, boasting over 17,000 individuals across 10,000 residences; 71% are renters. Anticipated growth of 14.90% by 2027 signals a promising future for economic expansion and development in the area.
  • The Subject Property is situated within the Downtown Core Area, which aims to remain as the Capital Region's primary economic, social, arts, cultural, and entertainment centre. The Subject Property is designated for up to 3.0x FSR, with permitted uses supporting retail at grade and residential dwellings on the upper storeys.

Investment Overview

We are pleased to present the opportunity to acquire 1708 Douglas Street, Victoria, B.C. (the “Subject Property”), a fully leased retail income-producing asset prominently located in the heart of Downtown Victoria. The Subject property presents a rare opportunity to acquire a freehold parcel in a highly desirable location within Victoria’s densifying downtown city-centre. The Subject Property is positioned strategically across from the Hudson and Victoria Public Market, and near Victoria’s historic Chinatown, benefiting from consistent year-round pedestrian traffic.

Exclusively Listed By

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