234-238 Abbott Street | Gastown Investment Opportunity

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30519146
Property Subtypes: Mixed Use, Other
Building Size (RSF): 3,600 SF
Gross Building Area: See Agent
Sale Price: $4,995,000
Unit Price: $1,387 PSF
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 5/22/2020

Overview / Comments

• Extraordinary investment/owner occupier opportunity in the heart of Gastown
• Character restaurant and office asset with two storeys, both with mezzanines
• Main level features a fully fixtured, 1,800 SF (approx.) restaurant premises
• Second level features a renovated, 1,800 SF (approx.) character office unit, with a private washroom and shower
• Exposed brick and beam throughout
• Excellent carefree net investment with exceptional rental upside, with Gastown experiencing substantial year over year rental growth
• Potential opportunity for an owner occupier with strong in-place rental income

Attachments & Media

Additional Details

Nearest CMA: Vancouver
Regional District: Greater Vancouver
Parcel ID: 010-109-251
Property Visibility: Excellent
Site Description: 234 – 238 Abbott Street is located in the heart of Gastown on Abbott Street steps away from vibrant Water Street. Gastown is an internationally renowned heritage zone, adjacent to Vancouver’s financial core and is characterized by its cobblestone streets, brick and timber heritage buildings and historical charm. It is home to many boutiques, international retailers and award-winning restaurants with multiple emerging design firms and some of Vancouver’s top high tech and visual effects companies. The subject asset is strategically located amongst several extremely successful mixed use developments, including the Terminus/Garage/Alhambra Projects by Salient Developments and the renowned Woodwards Development by Westbank, among others. The immediate area is further seeing development intensification with the brand new 114,000 SF mixed use rental project at 33 W Cordova Street by Westbank and the 82,000 SF office and retail project by Low Tide Properties, both steps away from the current asset.

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Contact

Photograph of Listing Agent

Robert Tham

Corbel Commercial Inc. Commercial First Member
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