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Mixed-Use

524 Yates Street

524 Yates St, Victoria, BC V8W 1K8

Listing Price: $3,500,000

Cap Rate
5.22%
Number of Units
1
Occupancy
100.0%
Price/Unit
$3,500,000
Price/Gross SF
$468.79
Gross SF
7,466

Investment Overview

The Vendor has exclusively retained Marcus & Millichap to facilitate the sale of 101 – 524 Yates Street, Victoria, B.C. (the “Subject Property”). The Subject Property represents a unique opportunity to acquire a beautifully restored and fully updated, 7,466 SF strata unit secured with a single-tenant, NNN lease backed by a corporate covenant, MetaLab Design Ltd. The Subject Property is comprised of the high-profile ground floor commercial unit of a desirable renovated heritage property, the Leiser Building, situated in Victoria's burgeoning Old Town. Positioned between Wharf Street and Government Street along Yates Street, and adjacent to Waddington Alley providing pedestrian and bike access through to Johnson Street's Market Square, the location provides excellent access to walkable amenities, ample public parking (Bastion Square Parkade), superb access to public transportation, and a leisurely walk to the Inner Harbour and renowned float plane terminal.

Investment Highlights

  • High profile, single-tenant 7,466 SF commercial strata unit backed by a corporate covenant
  • Built in 1869 and renovated in 2008 by the award winning Le Fevre & Co., the Subject Property maintains its historical aesthetic, complete with mechanical, electrical, and seismic upgrades
  • Long-term lease with MetaLab Design Ltd., a Victoria based successful product design, engineering, and research firm, backed by a strong covenant
  • Situated in Victoria's trendy Old Town District with superb access to retail amenities and public transit
  • Adjacent public parking at the Bastion Square Parkade. Proximity to the Johnson Street Bridge, Harbour Air, and Inner Harbour
  • Over height ceilings, an abundance of natural light, large street front glazing and entrance, and shared access to common courtyard and rooftop amenity areas

Exclusively Listed By

Listing Price: $3,500,000

Cap Rate
5.22%
Number of Units
1
Occupancy
100.0%
Price/Unit
$3,500,000
Price/Gross SF
$468.79
Gross SF
7,466

Investment Highlights

  • High profile, single-tenant 7,466 SF commercial strata unit backed by a corporate covenant
  • Built in 1869 and renovated in 2008 by the award winning Le Fevre & Co., the Subject Property maintains its historical aesthetic, complete with mechanical, electrical, and seismic upgrades
  • Long-term lease with MetaLab Design Ltd., a Victoria based successful product design, engineering, and research firm, backed by a strong covenant
  • Situated in Victoria's trendy Old Town District with superb access to retail amenities and public transit
  • Adjacent public parking at the Bastion Square Parkade. Proximity to the Johnson Street Bridge, Harbour Air, and Inner Harbour
  • Over height ceilings, an abundance of natural light, large street front glazing and entrance, and shared access to common courtyard and rooftop amenity areas

Investment Overview

The Vendor has exclusively retained Marcus & Millichap to facilitate the sale of 101 – 524 Yates Street, Victoria, B.C. (the “Subject Property”). The Subject Property represents a unique opportunity to acquire a beautifully restored and fully updated, 7,466 SF strata unit secured with a single-tenant, NNN lease backed by a corporate covenant, MetaLab Design Ltd. The Subject Property is comprised of the high-profile ground floor commercial unit of a desirable renovated heritage property, the Leiser Building, situated in Victoria's burgeoning Old Town. Positioned between Wharf Street and Government Street along Yates Street, and adjacent to Waddington Alley providing pedestrian and bike access through to Johnson Street's Market Square, the location provides excellent access to walkable amenities, ample public parking (Bastion Square Parkade), superb access to public transportation, and a leisurely walk to the Inner Harbour and renowned float plane terminal.

Exclusively Listed By

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