Values for retail properties in East Vancouver have largely been driven by rents in increasingly populated areas such as Main Street, Commercial Drive and East Hastings Street. Properties with strong tenant covenants in East Vancouver should achieve strong valuations with cap rates even below 5.00%.

The Freedman Shoes building on South Granville has sold for $7,900,000, or $1,175 per SF. The 6,726 SF building is located on the West side of Granville between West 12th and West 13th Avenues. The building has a current net operating income of $282,000 equating to a 3.6% cap rate.

The Mr. Lube property on Arbutus Street in the Westside area of Vancouver has sold for $4,380,000. The property is located at the corner of West 12th Avenue on a 75′ x 125′ site and is zoned C-8, commercial.