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
For Sale
2030 Marine Drive, North Vancouver,
Canada
± 26,259 SQFT
Office
$14,000,000
023-306-696; 023-306-718; 023-306-726; 023-306-700; 023-306- 734; 023-306-742; 023-306-751; 023-306-769; 023-306-777; 023- 306-785; 023-306-793; 023-306-807; 023-306-815; 023-306-823; 023-306-831; 023-306-840
C9 [Marine Drive Commercial]
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.
This communication is not intended to cause or induce breach of an existing agency agreement. E&OE: All information contained herein is from sources deemed reliable, and have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.
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