Strata Lot 1 - 6468 King George Boulevard

Retail-Commercial for Sale
Catylist Listing ID: 30582655
Property Subtypes: Free-Standing Building
Building Size (RSF): 6,072 SF
Sale Price: $2,500,000
Unit Price: $411.73 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/17/2020

Overview / Comments

Opportunity to purchase a fully leased, strata-titled investment property in the Newton neighbourhood of Surrey. Property constructed in 1990 consisting of a total of 6 strata lots and is fully leased to 3 long-term tenants.

Current Tenants

Tenant Business Name Subway
Is Renting? Yes
SF of Space Occupied 1,357 SF
Tenant Business Name Surrey Radiator
SF of Space Occupied 3,000 SF
Tenant Business Name Edmonds Batteries
SF of Space Occupied 1,715 SF

Additional Details

Nearest CMA: Vancouver
Regional District: Greater Vancouver
Parcel ID: 016-134-966
Property Visibility: Excellent
Area Description: The Property is located in the City of Surrey on King George Boulevard just north of 64 Avenue. It occupies a key location in the town centre of the community of Newton. Newton includes a strong local business community, and is one of the fastest growing residential areas in Surrey with a current population of 114,605 (2016 census).
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1990
Total Parking Spaces: 12
Parking Type: Surface
Zoning Description: CHI - Highway Commercial Industrial Zone This Zone is intended to accommodate and regulate those commercial and related uses requiring large lots and exposure to major highways, which generally are not accommodated in shopping centre, Town Centre or Surrey City Centre.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Strata
Legal Description: Strata Lot 1 of Section 16 Township 2 New Westminster District Strata Plan W3254 together with an interest in the Common Property in Proportion to the Unit Entitlement of the Strata Lot as shown on Form 1

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Contact

Photograph of Listing Agent

Sheldon Scott

Personal Real Estate Corporation
Colliers International Commercial First Member
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