$4,900,000

1622 Pemberton Avenue, North Vancouver, BC V7P 2S6

MLS® C8082602

Description

Avison Young is pleased to present 1622 Pemberton Avenue in North Vancouver, an exceptional opportunity to acquire a well maintained 4,160 sf commercial asset that sits on 7,920 sf of land in the vibrant Norgate/ Pemberton neighbourhood, immediately off the Marine Drive corridor. The building features a single storey commercial retail building, built in circa 1971 of concrete foundation, concrete block structure with single paned aluminium floor to ceiling curtain wall, with flat tar and gravel roof, front and rear parking for nine vehicles, offering functionality for owner-occupiers while also presenting strong holding income in place until June 2027, or further with a renewal. Future near term redevelopment upside for investors falls under the Commercial Mixed-Use Level 1 (CRMU1) future land use designation.

Property

Property type

Commercial Sale

Style

Retail

Ownership

Other

Levels

1

Costs

Annual property tax

$33,278

Tax year

2,026

Location

Area

North Vancouver

Neighbourhood

Norgate

Waterfront

No