A single-tenant streetfront retail building at 1047 Denman Street in Vancouver’s West End has sold for $3,420,000 — or $1,966 per square foot — in what is one of the highest $/SF results recorded for a small-format retail property in the neighbourhood.
The 1,740 SF single-storey building, constructed in 1954, sits on a 2,178 SF (32 x 66 foot) C-5 zoned lot in the heart of Denman Village, steps from English Bay and Stanley Park. The property was fully occupied at the time of sale by Sushi Aboard, with a lease running through August 2029. The reported NOI was $70,013, implying a going-in yield of approximately 2.0%.
Details:
• Purchase Price: $3,420,000
• Price per SF: $1,966
• Building Size: 1,740 SF
• Tenant: Sushi Aboard
• Lease Expiry: August 2029
• NOI: $70,013
The sale price exceeded the $3,295,000 asking price, reflecting the competitive demand for freehold retail properties in high-traffic West End locations. Denman Street’s pedestrian traffic, tourism exposure, and position within Vancouver’s most densely populated neighbourhood support the significant premium.
The West End Community Plan designates Denman Village for mixed-use development up to 2.2 FSR and 60 feet in height, providing potential longer-term redevelopment optionality for the purchaser beyond the current income stream.
The sale was brokered by Sheldon Scott and Arjen Heed of Sitings Realty.
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