7675 Edmonds Street

Property Description

Value Add / End User Opportunity with Redevelopment Upside

Unique opportunity to purchase a 11,867 square foot mixed-use retail building located near the intersection of Canada Way and Edmonds St in Burnaby’s Edmonds neighborhood. The property is in close proximity to Edmonds School Park and Community Centre in addition to transit hubs, restaurants and other community amenities. The 2 storey building currently has 13 units (3 commercial retail units (CRUs) and 10 office units). The 10,012 square foot lot also has a OCP designation allowing for a 4+ storey mixed-use development. At present, there are 10 parking stalls at the rear with one point of ingress and egress in addition to streetside parking at the front. Recent lease transactions support market rates of $25/SF/YR + in the Edmonds neighborhood. From a repositioning standpoint, one has an exceptional opportunity to increase market rents/rental income in order to add significant value. Lease provisions also allow for end-users to occupy a substantial percentage of the building, while benefiting from holding income/appreciation.