Streetfront Retail Property in New Westminster Sells for 5.3% Cap
A streetfront retail property in the Connaught Heights area of New Westminster has sold for $5,000,000. The property is fully leased to ten local retail tenants.
Property Details:
- Type: Streetfront multi-tenant retail
- Building Size: 10,478 SF
- Lot Area: 16,113 SF
- Year Built: 1919
- Cap Rate: 5.3%
The property includes 18 parking stalls. It had been listed for $6,500,000.
The property was listed and sold by Cody Davis of Jovi Realty.
Own an retail property in Metro Vancouver? I can provide a confidential opinion of current market value. — David Taylor, Colliers · 604-761-7044
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