14,196 ft²Retail / Multifamily$12,949,000Sale
14,196 ft²
Retail / Multifamily
$12,949,000
Sale
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Corbel Commercial is pleased to present an exceptional opportunity to acquire a free standing 3-storey, mixed use asset located at 1033 - 1039 Granville Street in Downtown Vancouver. The subject property is comprised of 3 Commercial Restaurant/Retail units on the main floor* that are fully leased and 8 massive, 3-bedroom, fully refurbished character residential units* on floors 2 and 3. The building has undergone a substantial renovation to include new glass retail storefronts, upgraded building systems, commercial grade venting systems for commercial kitchens, and fully restored character residential market rental units above. Centrally located in the heart of the Granville Entertainment District known for its vast assortment of bars, dance clubs, restaurants, shops, and vibrant nightlife - this is an excellent income generating investment with potential redevelopment opportunities in the future. *Approved occupancy with the City of Vancouver is restaurant for units 1033 & 1037, residential for unit 1035 (4 dwelling units on the second storey, 4 dwelling units on the third storey), and retail (limited service food establishment) for unit 1039. Purchaser is responsible for obtaining all necessary municipal approvals and licenses for their occupancy.
The Space
Asking Price$12,949,000
Available Space14,196 ft²
NegotiableYes
Net Operating Income$632074.66
Property UseMixed use
ZoningDD
SourceDirect
Transit Friendly
The Building
Granville Entertainment District is nestled in the heart of downtown Vancouver, connecting you to other iconic streets in Vancouver including Georgia, Robson, and Davie Street. Along its vibrant path, you'll discover a tapestry of notable landmarks, including the Vogue and Orpheum theaters, renowned for their captivating performances. The district is also famous for its wide variety of bars, restaurants, shops, and nightlife, with popular destinations like The Roxy, Aura Nightclub, The Vogue Theatre, and The Commodore Ballroom. Several large-scale residential and commercial developments, and hotels in the immediate area including the Rolston by Rize Alliance, The Standard by BlueSky, The Manulife Financial Tower, Hotel Belmont MGallery and Chateau Granville are all located steps from the subject property. Additionally, the proposed landmark 800 Granville Street project by Bonnis Properties, featuring 16-storeys consisting of 420,000 sq ft of office space within the upper levels, 103,000 sq ft of retail and restaurant space in the first three floors, and 90,000 sq ft of new and retained cultural and entertainment spaces is located 2 blocks north of 1033 - 1039 Granville Street, strategically placing this asset in an already established, yet continually emerging downtown location with exceptional pedestrian traffic.
Property TypeRetail / Multifamily
Floors3
Lot Size6,000 ft²
Year Built1907
Up to $500K for British Columbia businesses
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