strata retail for sale€¦ · strata retail for sale 885 carnarvon st new westminster, british...

STRATA RETAIL FOR SALE885 CARNARVON STNEW WESTMINSTER, BRITISH COLUMBIA

Royal LePage Sussex Klein Group | Suite 204 345 Robson St. | Vancouver BC Canada | V6B 6B3

O 604 684 8844 | F 604 408 6648 | TF 1 855 684 8844 | www.kleingroup.com

Raman BayanzadehCommercial Real Estate Investment & Leasing

CCIM, Bsc. Industrial Eng., DIPBM

O 604 684 8844 ext 707 F 604 684 8844 C 778 896 7592 TF 1 877 877 0417 E [email protected]

Sumir ChauhanBusiness Brokerage & Investment Advisory

P.Eng.., MBA

O 604 684 8844 ext 712 F 604 408 6648 C 604 725 5977 TF 1 855 684 8844 E [email protected]

STRATA RETAIL FOR SALENEW WESTMINSTER, BRITISH COLUMBIA885 CARNARVON ST



PROPERTY CHARACTERISTICS • Location 885 Carnarvon St New Westminster, BC• Asking Price $629,000• Unit Size 1,213 SF• Building Name Westminster Towers• Building Type High Rise, Mixed Use• Construction Concrete• Ceiling Height 11 ft• Parking 1 • Zoning C-4• Amenities HVAC System, Secured Building, Secured Parking, Storefront• Site Influence High Traffic Area, Retail Exposure• Monthly Strata Fees $ 441.08/month• Property Taxes $ 6,033.10 (2016)• PID 018-225-551• Legal Description PL LMS729 Lot 201 LD 36 BLK 23• Occupancy Vacant with 30 days notice

INVESTMENT OPPORTUNITY

• Potential Net Income $31,538 / Yr• Potential Cap Rate 5.01%* Based on the property being leased at Base Rental Rate of $26/sf/yr

DEMOGRAPHIC SUMMARY Within 3 KM • Area Population 83,216 • Ave. Household Income $83,844• Ave. Household Expenditure $105,323• Median Age 40.80

OVERVIEWGround floor concrete Strata retail unit located at the Westminster Towers on Carnarvon St with high walkby traffic at the waterfront district of River Walk Quay in New Westminster. This historic and revived area offers a new mall, theatres and restaurants as well as the eclectic shops that New West is known for. Being both a block from Columbia SkyTrain station (20 minute commute to downtown Vancouver) and located next door to Douglas College, the new performing arts and community facility “Anvil Centre” and a class “A” office building. Ideal for owner occupier or investor.

Disclaimer: The information contained herein has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.





ZONING

C-4Section 520

520 Downtown Mixed Use Districts (High Density) (C-4)

520 .1 The intent of this district is to allow mixed use development at a high density, with an opportunity to increase density upon amenity requirements being met.

Permitted Principal and Accessory Uses

520 .2 The following principal and accessory uses are permitted in the C-4 zoning district. For uses accompanied by a checkmark, there are conditions of use contained within this zoning district, or within the General or Special Regulations section of this Bylaw.

Permitted Principal Uses Use Specific Regulations

Animal grooming and daycare facilities;Animal hospitals and veterinary clinics;Antique stores, charity thrift stores, clothing consignment stores, second hand specialty stores;Banks;Business and professional offices;Cafes and restaurants;Child care;Commercial schools;Congregate housing;Cottage breweries;Duplex;Government institutions including educational and judicial facilities;Health Service Centres;Hotels;Jewelry manufacturing;Live-work units;Marinas;Multiple dwellings;Personal service establishments;Printing, publishing, bookbinding and other reproduction processes;Public assembly and entertainment uses;Public transportation depots;Public utilities;Retail sale of automobiles, parts and accessories and servicing of automobiles;

2014 09 16 New Westminster Zoning Bylaw 520-1

C-4Section 520

520 Downtown Mixed Use Districts (High Density) (C-4)

520 .1 The intent of this district is to allow mixed use development at a high density, with an opportunity to increase density upon amenity requirements being met.

Permitted Principal and Accessory Uses

520 .2 The following principal and accessory uses are permitted in the C-4 zoning district. For uses accompanied by a checkmark, there are conditions of use contained within this zoning district, or within the General or Special Regulations section of this Bylaw.

Permitted Principal Uses Use Specific Regulations

Animal grooming and daycare facilities;Animal hospitals and veterinary clinics;Antique stores, charity thrift stores, clothing consignment stores, second hand specialty stores;Banks;Business and professional offices;Cafes and restaurants;Child care;Commercial schools;Congregate housing;Cottage breweries;Duplex;Government institutions including educational and judicial facilities;Health Service Centres;Hotels;Jewelry manufacturing;Live-work units;Marinas;Multiple dwellings;Personal service establishments;Printing, publishing, bookbinding and other reproduction processes;Public assembly and entertainment uses;Public transportation depots;Public utilities;Retail sale of automobiles, parts and accessories and servicing of automobiles;


C-4Section 520

Retail stores;Single Detached Dwellings;Studios (artist, display, radio, recording);Taxi offices;Video stores;Wholesaling;

Permitted Accessory Uses Use Specific Regulations

Accessory uses to permitted principal uses;Accessory Recycling Return Centre;Child care in accordance with Section 170.13 of this Bylaw;Home based businesses;

Conditions of Use

520 .3 A single detached dwelling use shall conform to the regulations in the RS-1 zoning district.

520 .4 A duplex use shall conform to the regulations in the RT-1 zoning district.

520 .5 Cafes and restaurants shall not include drive-in and drive-through restaurants;

520 .6 Personal service establishments may include barber shops, beauty parlours, dry cleaning shops (automatic self-service only), dry cleaning establishments, electrical appliance repair shops, optical or watch repair shops, florist shops, launderettes (automatic self-service only), shoe repair shops, tailor or dressmaker shops.

520 .7 Retail sale of automobiles, parts and accessories and servicing of automobiles uses must be fully enclosed within a building and no uses related to these function are permitted on open sites.

520 .8 Residential uses are only permitted at grade level in areas not designated ‘Commercial at Street Level’ in the Downtown Community Plan

B/L 7779, 2015

Base Density

520 .9 Overall base density shall not exceed 5.2 FSR.

520 .10 The maximum base residential density shall not exceed that indicated in the table below:

Site Size Maximum Permitted Base Residential Density

Less than 836 Square Metres 1.2 FSR

B/L 7779, 2015


C-4Section 520

Retail stores;Single Detached Dwellings;Studios (artist, display, radio, recording);Taxi offices;Video stores;Wholesaling;

Permitted Accessory Uses Use Specific Regulations

Accessory uses to permitted principal uses;Accessory Recycling Return Centre;Child care in accordance with Section 170.13 of this Bylaw;Home based businesses;

Conditions of Use

520 .3 A single detached dwelling use shall conform to the regulations in the RS-1 zoning district.

520 .4 A duplex use shall conform to the regulations in the RT-1 zoning district.

520 .5 Cafes and restaurants shall not include drive-in and drive-through restaurants;

520 .6 Personal service establishments may include barber shops, beauty parlours, dry cleaning shops (automatic self-service only), dry cleaning establishments, electrical appliance repair shops, optical or watch repair shops, florist shops, launderettes (automatic self-service only), shoe repair shops, tailor or dressmaker shops.

520 .7 Retail sale of automobiles, parts and accessories and servicing of automobiles uses must be fully enclosed within a building and no uses related to these function are permitted on open sites.

520 .8 Residential uses are only permitted at grade level in areas not designated ‘Commercial at Street Level’ in the Downtown Community Plan

B/L 7779, 2015

Base Density

520 .9 Overall base density shall not exceed 5.2 FSR.

520 .10 The maximum base residential density shall not exceed that indicated in the table below:

Site Size Maximum Permitted Base Residential Density

Less than 836 Square Metres 1.2 FSR

B/L 7779, 2015





AREA PLAN

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VANCOUVER, BRITISH COLUMBIA

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