3900 & 3971 Bayview Street, Richmond

Property Highlights

  • Richmond location highly coveted by retailers
  • Leasehold interest in new open-format retail centre on Steveston’s renowned waterfront
  • Fully leased with generous rent bumps
  • Significant parking revenue from 44-stall parking lot
  • Situated on Bayview Street in the heart of historic Steveston Village
  • 7.1% Cap rate in market devoid of new retail supply
  • Built in 2004

Legal Address
Plan # LMP51060 Block 3N Land District 36 Section
10 Range 7W Lot A Plan # LMP51309 Block 3N Land
District 36 Section 10 Range 7W
PID: 025-114-735, 025-131-176

Location
The subject property is located mid-block on Bayview Street between 1 Avenue and No. 1 Road in the waterfront community of Steveston in Richmond, BC.
Tenancy – 8 Retail Units

Parking
Surface parking for 44 stalls

Zoning
C4 Steveston commercial. (2 STO REY)

Physical Details
The property is improved with two single-storey multi
tenant retail buildings built in 2004. The building
contains a total gross leasable area of 9,681 SF.

Lot Details
Retail Plaza & Parking Lot: 36,871 SF

Assessed Value (2010)
Land $2,676,000
Improvement $826,000
Total $3,502,000

Gross Taxes (2010)
$56,248.79

Projected 2011 NOI
$249,939

Asking Price
$3,500,000