1548 West 2nd Avenue
$988,000
- Vancouver
- Retail
- 1,102 SF
Property Description
An exceptionally well-maintained and operated strata retail unit at the spectacular "Waterfall Building" by Arthur Erickson. This unit is split across two levels, providing a bonus office or retail component with courtyard access. Tenanted by Luminous Elephant Studios Inc. since 2016, this offers a stable investment until March 2023 and an escalating lease is in place for each year of the term.
LOCATION
Located in the False Creek/Fairview neighbourhood and just steps away from popular tourist destination Granville Island, this prime strata retail/office property has excellent exposure to West 2nd Avenue and the bustling retail strip of West 4th Avenue nearby. Due to this proximity, the pedestrian and vehicular traffic is high.
Just 25 minutes from Vancouver International Airport, 2 minutes across Granville Street Bridge to downtown Vancouver, and a one-minute walk to Granville Island make this a dyanmic and desirable retail location.
Additional Property Details
| PID | 025-151-355 |
| Legal Description | PL LMS4510 LT 55 DL 526 LD 36 |
| Zoning | C-2B Commercial |
| Building Size | 1,102 sq.ft.* (750 sq.ft. ground floor / 352 sq.ft. on the 2nd floor.*) |
| Property Taxes | $10,799.93 |
| Current NOI | $27,131.28 (annual rental escalations in place.) |