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304 THIRD Avenue
Queens Park New Westminster V3L 1M3

$6,700,000
Multi-Family Commercial

Main Photo: 304 THIRD Avenue, New Westminster - Queens Park
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Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8060311
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Maple Manor, an extensively renovated multifamily asset with excellent annual income located in New Westminster’s desirable Queen’s Park neighbourhoood. All suites have been fully renovated to a condo-quality finish, all with in-suite dishwashers and laundry, and fully renovated kitchens and bathrooms. 70% of the units are two and three bedroom suites. The building has undergone significant capital improvements, including a new IBC boiler and dual hot water tanks, double glazed windows, updated breaker panels in all suites, new torch on layer on the roof and an 8-camera security system.
Sale Type:
Asset
# of Appartments:
17
# of Bachelor Appartments:
2
# of 1 Bedroom Appartments:
3
# of 2 Bedroom Appartments:
11
# of 3 Bedroom Appartments:
1
Total Floor Area:
8,712 sq. ft.
Minimum Divisible Area:
0 sq. ft.
Lot Area:
8,712 sq. ft.
Lot Depth:
0
Lot Frontage:
0'
Land Use/Zoning:
RS-4
Taxes:
$20,171 / 2023
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Listed by Marcus & Millichap
Data was last updated November 21, 2024 at 04:10 PM (UTC)
AMAR SHAN
DANA BALAN
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Navigating Commercial Real Estate Landscape in Vancouver, BC

Vancouver, BC, stands as a beacon of economic prosperity and cultural diversity, drawing businesses and investors alike to its dynamic commercial real estate market. In this article, we’ll delve into the thriving commercial landscape of Vancouver, exploring key trends, popular sectors, and the factors contributing to the city’s robust real estate sector. Whether you’re an entrepreneur seeking the perfect storefront or an investor eyeing the stability and growth potential of Vancouver’s commercial market, the opportunities are as diverse as the properties themselves. Explore BC commercial properties, especially in Vancouver, and discover a landscape ripe for business success and investment ventures.

Diverse Commercial Sectors

Vancouver’s commercial real estate market spans a diverse array of sectors, catering to the multifaceted needs of businesses. From vibrant retail spaces in bustling neighborhoods like Gastown to sleek office towers in the central business district, the city offers a spectrum of opportunities. The industrial sector, particularly in areas like Mount Pleasant, has also witnessed significant growth, driven by the rise of tech companies and creative industries.

Tech Hub and Innovation

As a burgeoning tech hub, Vancouver has become a magnet for innovative companies seeking prime office spaces to foster creativity and collaboration. The city’s strategic location, coupled with its quality of life, has attracted major players in the tech industry, contributing to the demand for modern, adaptable office spaces.

Green Initiatives and Sustainability

Vancouver places a strong emphasis on sustainability, influencing its commercial real estate landscape. The city’s commitment to green building practices has led to a surge in environmentally conscious developments. LEED-certified buildings and energy-efficient spaces have become integral components of the commercial market, appealing to businesses with a focus on sustainability.

Challenges and Opportunities

Despite its robustness, Vancouver’s commercial real estate market is not without challenges. Limited available space in key areas and rising property values pose obstacles for businesses seeking prime locations. However, this scarcity has also spurred innovative projects, such as mixed-use developments that seamlessly blend residential and commercial spaces.

Investment Appeal

Investors are drawn to Vancouver’s commercial real estate market for its stability and long-term growth potential. The city’s strategic geographical location, strong economic fundamentals, and commitment to innovation create an attractive environment for those looking to diversify their portfolios.

Conclusion: Vancouver, BC Commercial Properties

Vancouver’s commercial real estate landscape continues to evolve, shaped by economic trends, sustainability initiatives, and the city’s commitment to innovation. Whether you’re a local business looking to expand or a global investor seeking lucrative opportunities, Vancouver’s dynamic and diverse commercial real estate market provides a wealth of possibilities.