All Sq Ft Area

  • All Sq Ft Area
  • Less than 1,000
  • 1,000 to 5,000
  • 5,000 to 10,000
  • 10,000 to 30,000
  • 30,000 to 50,000
  • 45,000 to 50,000
  • 50,000+

Price Range: From to

Development Opportunity In Heart Of Mount Pleasant

701 Kingsway, Vancouver, BC V5T 3K6 Canada

17,978 SF Site

$18,800,000.00
  • Description
  • Details
  • Features
  • Address

Description

The Opportunity

Lee & Associates Vancouver is pleased to present the opportunity to acquire 701 Kingsway, Vancouver, BC (the “Property”), a C-2 zoned retail strip mall located in the heart of Vancouver’s Mount Pleasant neighbourhood. The Property offers an exceptional development opportunity with spectacular views of the North Shore mountains and over 380 feet of total frontage on Kingsway, Fraser Street, and East 15th Avenue. Strong holding income allows potential developers to minimize overall carrying costs.

Location Overview

Mount Pleasant is known as one of Vancouver’s trendiest neighborhoods, which has consistently enjoyed a residential vacancy rate near 0.5% and rapidly appreciating rental rates. Residents flock to Mount Pleasant for its diverse community, with an abundance of character and authenticity. The Property is situated on the northeast corner of Kingsway and Fraser Street, the core of East Vancouver’s most desirable neighbourhood, which is appropriately named “Fraserhood”. Over the course of the past few years, some of the City’s most notable restaurants and bars have opened up in the neighbourhood, making this area a destination spot for Vancouver dining enthusiasts and tourists alike. Notable amenities to the immediate area include, Matchstick Coffee Roasters, Osteria Savio Volpe, Crowbar Restaurant, Earnest Ice Cream, Bells and Whistles, and Los Cuervos Taqueria & Cantina.

 

Property Highlights

  •  High exposure location on the corner of two main arterial thoroughfares provides potential for increased density
  •  Further opportunity to rezone under the Rental 100 Program to achieve higher density
  •  Favorable C-2 zoning allowing for a mixed-use development up to 2.5 FSR
  •  17,978 SF site with achievable density under the current zoning of 2.5 FSR, or 44,945 buildable SF
  •  Site enjoys several street frontages maximizing development potential and site massing
  •  All short term leases with demolition clauses in place
  •  Phase 1 and 2 environmental reports available soon
  •  Below market retail rental rates; upside on potential lease renewal
  •  Potential views of the North Shore mountains
  •  Capitalize on unprecedented demand for housing in Vancouver’s trendy Mount Pleasant neighbourhood
  •  Potential for further assembly and density increases if combined with neighbours to the east
  •  Highly sought-after surrounding amenities
  •  Holding income in place

Download Documents

Detail

Updated on December 11, 2018 at 10:12 am

  • Property Size: 17,978 SF Site
  • Property Type: Development
  • Property Status: For Sale

Additional details

  • Building Size: 9,058 SF
  • Property Tax: $84,952.72 (2017 Tax Notice)
  • Zoning: C-2 Commercial (2.5 FSR)

Features

  • Address: 701 Kingsway
  • City: Vancouver
  • Province: British Columbia
  • Postal Code: V5T 3K6
  • Neighborhood: Mount Pleasant
  • Country: Canada