Two-story building featuring a prominent front-facing gable, a dark shingle roof, and a second-story wood-railed balcony
$2,995,000
MLS® C8078494
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Court Ordered sale. Opportunity to acquire a stand alone, retail single-tenant building – constructed in 1901 – on a 4,951 sq.ft. lot, and an adjacent, vacant paved lot totaling 2,316 sq.ft.. The building has a gross leasable area of approximately 4,644 sq.ft., and is home to the Old Bavaria Haus Restaurant. The adjacent lot is utilized for garbage collection and parking (there are 8 designated spaces). The two properties are separated by a city laneway. The building parcel is zoned C-2 and the vacant lot is zoned CP-1. The building is in serviceable condition, suitable for continued retail-restaurant use while offering longer term repositioning or redevelopment potential. The City of New Westminster designates the property as “Residential – Multiple Unit Buildings” in the city’s Official Community Plan, allowing for a mix of small to moderate sized medium density multiple unit residential buildings. The properties are being sold as-is-where-is and all offers are subject to court approval.
Listed by J-D Murray, NAI Commercial
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