Lee & Associates Vancouver is pleased to present the opportunity to acquire 1510 Commercial Drive (the “Property”), a three storey concrete building of leasable area. The property offers strong holding income and terrific development potential.
The Property is strategically located on the southeast corner of Grant Street and Commercial Drive in the highly sought-after Commercial Drive neighbourhood of Vancouver. Known as “Little Italy”, Commercial Drive is one of Vancouver’s most trendiest districts. “The Drive” offers an abundance of restaurants, cafés, shopping, parks, and commercial amenities all while enjoying an abundance of transit options to UBC, Downtown Vancouver, and beyond.
- Fully leased
- New 10,000 SF Government tenant on second floor
- High profile corner location with development potential
- 121 foot frontage on Commercial Drive
- Exceptional holding income with upside; commercial rent escalation over the next five years
- Large site offers excellent development potential
- Stage 1 and 2 environmental report available
- 3 storey building with concrete construction
- Enclosed underground parkade with 38 stalls and surface parking with 23 stalls
- New roof installed in 2017
- Full HVAC
- Telus fibre optic service