William Wright Commercial is excited to introduce Lions Gate Centre, a 16 strata lot office strategically positioned in the heart of North Vancouver. The subject property is offered at a 6% cap rate, based on the current income, with a 93% occupancy rate. Notably, the building has recently undergone extensive renovations, with improvements exceeding $1,100,000 in value. Our carefully crafted repositioning strategy is designed to deliver an cash-on-cash return of approximately 47.71% over a three-year period.

Fully Renovated Concrete Office Building With 16 Strata-titled Units

• Strong cap rate with 3-year seller rental guarantee
• 6% cap rate on actual income
• Proposed repositioning strategy aims to generate a 47.71% return on cash invested over a three-year period. Contact listing agents for details.
• Fully renovated concrete office building with high-end finishings, sprinkler system, modern exterior paint, and new HVAC, CCTV security, and electrical systems; totaling over $1,100,000 in improvements.
• Uniquely structured as 16 strata-titled units with a mix of retail, standard office, and micro office units; all properly demised and registered with the District of North Vancouver.
• 93% occupied with a blend of long-term and flexible leases.
• Designated as Marine Drive Village Centre – Mixed-Use Level 2, permitting up to 10,876 SF of additional density on site.
• 60 parking stalls (52 underground, 8 surface) presenting additional sources of revenue.
• Strong average household income in North Vancouver of $170,200*

STRATA LOTS 1-16, PLAN LMS2241, DISTRICT LOT 764, GROUP 1, NEW WESTMINSTER LAND DISTRICT, TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM 1

Lions Gate Centre is located along Marine Drive in North Vancouver; a corridor which is highly regarded for its blend of urban conveniences, strong population, and scenic outlooks, making it an ideal destination for both businesses and residents. With the recently renovated Park Royal Shopping Centre to the West, Lions Gate Bridge to the South, Highway 1 to the North, and Capilano Mall to the East, Lions Gate Centre is fully supported by area drivers and accessibility. Lions Gate Centre also benefits from the surge in population density immediately surrounding the site, with over 2,000 new homes (completed since 2018 & projected).

North Vancouver has experienced steady growth in real estate values over the years, and this upward trajectory is expected to continue into the future. The city's desirability as a place to live and work, combined with limited available land, lends itself to many future investment strategies to implement toward the Lions Gate Centre - contact listing agents for more details.