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$ 5,100,000
Est. payment | /mo
0.47 Acres Lot
$ 5,100,000
Est. payment | /mo
0.47 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type Asset
MLS Listing ID C8057547
Year Built 1974
Lot Size 0.470 Acres
Property Description
Presenting an exceptional opportunity for investors and developers, this property offers over 27,700 square feet of prime re-development land. The highest & best use envisions a one-level commercial/retail space accompanied by the potential for 5 levels of wood-frame residential apartments, all topped off with convenient underground parking. Currently operating as a medical building, the property yields an impressive $200,000 Net Operating Income (NOI) annually, with a modest 40% lot coverage. Positioned at the high-visibility corner of 222nd & Dewdney Trunk Road, this location experiences substantial foot & vehicle traffic, enhancing its commercial viability. The property is currently tenanted with solid leases, each extending for five years, contributing to a reliable and diverse tenant mix. Whether considered as a robust revenue-holding asset or a prime candidate for immediate redevelopment, this offering promises an exciting venture in a thriving and strategic locale. Must be purchased with R2849049
Location
Province BC
Community West Central
Area Maple Ridge
Zoning C-3
Interior
Heating Forced Air
Cooling Central Air, Forced Air, Air Conditioning
Exterior
Utilities Available Fully Serviced
Roof Type Asphalt
Building
Story 1
Sewer Public Sewer
Water Public
Others
Ownership Freehold
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