Gas Town building; 1.5 mill; 6 cap rate

BUILDING FOR SALE

6 Hastings Street E, Vancouver, BC V6A1N1

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• Price:
  $1,560,812
• Building Size:
  5,100 SF
• Price/SF:
  $306.04
• Property Type:
  Retail
• Property Sub-type:
  Free Standing Bldg
• Property Use Type:
  Net Lease Investment with 5 years left on lease
• Commission Split:
  2%
• Cap Rate:
  6%
• Occupancy:
  100%
• Tenancy:
  Multiple
• Find Out More...

Last Verified 9/30/2010 Listing ID 16750742

Description

Mixed commercial & residential space in this two - storey building. Three more storey may be added (up to 22.9 meters). New owner will chose a bonus: successful business - grocery store with net income $13,000 per month or $100,000 cash & $5,000 per month - lease for the grocery store - main level. On the second floor - residential part of the building, rent - $2,800 per month. Great investment & income per year - near $100, 000! City of Vancouver will exempt you from tax for 10 years & relax from the parking if you build 1 or 2 more storeys & do seismic upgrade. Great renovation in 2009 & 2010! Facade of the building will be upgraded before possession of the new owner. Starbucks & Irish Pub will be your neighbors in the near future.

Downtown Vancouver!
Gastown!

Financial Summary

• Actual
• Net Operating Income
  $97,182.68