225 Kingsway, Vancouver, BC

3,462 ft²

Retail

$4,450,000

Sale

Opportunity to acquire the entire street level retail commercial portion at Vya, an urban infill 6 storey commercial and residential mixed use stratified building constructed in 2017 fronting Kingsway Ave in the neighbourhood of Mount Pleasant. The offering comprises of 3,462 square feet +/- within 3 side by side strata lots gaining 87’ of front exposure to Kingsway Ave. The leasable area comprises of 3,825 SF as noted in the lease accounting for the common area gross up. The retail has been constructed by concrete and made contemporary with an exterior glass canopy as well as full glass storefronts. Occupied by an established tenant, Spin Society, at it’s flagship operation in extension of two other locations. The space is well improved for the use with upper end finishes to the common areas and studio spaces. With the entire ownership of the commercial section, and the single tenant occupancy, the commercial loading bay and access corridors are completely separate from the residential section and private to the existing tenant. Refer to brochure for income related information. Current NOI $148,512.98 with $2.00 per square foot net rent escalations every two years from March 2023, 2025 and 2027.