Retail continues to be in high demand in  White Rock as an investment, particularly due to the ongoing demand on behalf of investors to find buildings in well-established safe markets. In particular, White Rock has seen relatively little new construction over the past several years. This is a small market that is difficult to buy into and this has been reflected in increasing rental rates and values.

Retail assets that have traded over the past 10 years have typically been streetfront retail, with most sales occurring in the Marine Drive and town centre areas.

Current cap rates for retail tend to be between 5.0% and 6.0% in this market, and have exhibited gradually increasing average prices over the past 10 years as follows:

Source: Colliers Research

A two-storey retail building has sold at the Southwest corner of Denman and West Georgia Streets in Downtown Vancouver. The building is 9,400 sq ft and tenants include the Running Room. The purchase price was $7,360,000, equating to $780 per sq ft.

David Taylor and Simon Lim of Colliers are pleased to present for sale 2116 West 41st Avenue, a 2-storey retail and apartment building located in the heart of Kerrisdale.

Key Features

• High-exposure retail and apartment property in the heart of Kerrisdale
• Stable, fully leased income producing property in affluent neighbourhood
• Opportunity to generate income and live and/or work in the building
• Six apartment units over two retail units
• Additional residual density creates renovation potential
• Asking price: $7,688,000

Contact us for further information, including a brochure.