A streetfront retail building at 1816–1818 Commercial Drive in Vancouver’s Grandview-Woodland neighbourhood has sold for $3,328,000, or $1,193 per SF. CBRE’s Casey Pollard listed and sold the property.
The building was built in 1922 and has 2,790 SF of multi-tenant space. It sits on a 3,485 SF lot with 33 feet of frontage on Commercial Drive and a depth of 105 feet. The property is zoned C-2C. It falls within the Grandview-Woodland Community Plan’s Commercial Drive core, a traditional shopping district that allows buildings of up to four storeys with ground-floor commercial.
The vendor had acquired the property in August 2023 for $3,100,000. The sale price is $228,000, or roughly 7%, above that purchase price.
Small-scale streetfront retail on Commercial Drive attracts owner-users and local investors who want a long-term hold in one of Vancouver’s best-known neighbourhood shopping streets. The mixed-use land-use designation adds redevelopment potential for buyers with a longer horizon.
Pricing details
- Sale price: $3,328,000
- Price per SF: $1,193
- Building size: 2,790 SF
- Lot size: 3,485 SF
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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