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

Mainstreet Equity Corp. has acquired a two-building apartment portfolio on St. Andrews Street in New Westminster’s Brow of the Hill neighbourhood. The sale closed in early October 2026 at $18,000,000, or $197,802 per unit across 91 suites.

The portfolio is made up of Twin Hollies at 1010 St. Andrews Street and St. Andrews Manor at 1025 St. Andrews Street. They sit on opposite sides of the street between 10th and 11th Avenues, within walking distance of Moody Park and the Uptown District. Downtown New Westminster and the SkyTrain stations are less than 1 km away.

Twin Hollies is a 43-suite, three-storey wood-frame building from 1968. It has an elevator, 33 surface stalls, and 42 storage lockers. Recent upgrades include a new roof and boilers in 2025 and new front doors in 2026. St. Andrews Manor is a 48-suite, 1969 wood-frame building with an elevator, 43 parking stalls, and 47 lockers. Both buildings are zoned RM-2.

Goodman Commercial marketed the properties, which were offered either individually or as a package. Their combined asking price was roughly $21.2 million, so the portfolio traded about 15% below ask.

The sale shows institutional buyers are still active in older low-rise rental buildings in the Fraser Valley and outer Metro Vancouver. Pricing of about $198,000 per unit is well below Burnaby and the North Shore, where comparable deals trade at much higher per-unit values.

Pricing details

Portfolio

• Sale price: $18,000,000
• Price per unit: $197,802
• Cap rate: 5.3% (blended, on marketing-stage NOI)

St. Andrews Manor, 1025 St. Andrews Street

• Sale price: $8,672,980
• Price per unit: $180,687 (48 units)
• Cap rate: 5.9%
• Lot size: 30,492 SF

Twin Hollies, 1010 St. Andrews Street

• Sale price: $9,327,020
• Price per unit: $216,907 (43 units)
• Cap rate: 4.8%
• Lot size: 26,136 SF

A two-storey mixed-use building at 5461 12th Avenue in the heart of Tsawwassen’s commercial district has sold for $3,000,000. The sale completed on July 21, 2026, after roughly four months on the market. It was originally offered at $3,100,000, so the final price landed at about 97% of the asking price.

The building was constructed in 1992 and combines two ground-floor professional office units with residential suites on the second floor. It sits on a corner lot of roughly 8,494 SF with frontage on both 12th Avenue and 55th Street, and has 10 surface parking stalls.

Sale details

• Sale price: $3,000,000
• Cap rate: 4.5%
• Building size: 7,346 SF
• Lot size: 8,494 SF

A rare mix of income and optionality

At a 4.5% cap rate, the property offers a purchaser meaningful holding income, which is not always the case for sites with redevelopment upside. The building was marketed with a mix of tenants, and a large second-floor owner’s unit of approximately 2,651 SF that could be occupied by an owner-user or leased to generate additional income.

The land is the other half of the story. The site is designated Neighbourhood Centres & Corridors, the same higher-density designation that applies to neighbouring undeveloped properties to the west and north. That gives a buyer the option of holding the existing income for the medium term and positioning for a future redevelopment as Tsawwassen’s town centre evolves. The site is fully serviced and within an easy walk of grocery, banking and restaurant amenities.

What it tells us about the Delta market

Small, multi-tenant commercial and mixed-use buildings in Tsawwassen trade infrequently, and buyers are typically local investors and owner-users looking for stable income with a long-term land play. A sale at a 4.5% cap rate, with a modest discount to the asking price after a four-month marketing period, is a useful data point for owners of similar buildings in the South Delta commercial core.

If you own a commercial or mixed-use property in Delta, Tsawwassen or elsewhere in the South Fraser, I’d be happy to provide an opinion of current market value.

A 10-suite apartment building at 1176 West 11th Avenue in Vancouver’s Fairview neighbourhood has sold for $2,895,000.

The property is a two-storey, plus basement, walk-up apartment building with no elevator or balconies and five surface parking stalls. It sits on a 50-foot by 125-foot lot, a good-sized site for the area. The building was sold fee simple with 100% of the interest transferred.

Sale details

• Sale price: $2,895,000
• Price per unit: $289,500
• Lot size: 6,229 SF

The sale completed on August 31, 2026, and was brokered by Colliers’ Morgan Iannone and Casey Weeks.

What the buyer is really buying

At $289,500 per suite, the price reflects an older low-rise building, but the land underneath is the bigger story. The site falls within the Broadway Plan’s rezoning-eligible areas, where the Fairview South mid- to high-rise residential designation enables rezonings. The marketing materials outlined potential for up to 20 storeys and roughly 40,625 SF of multi-family space at a 6.5 FSR. On those numbers, the sale price works out to about $71 per buildable SF before accounting for the existing improvements.

For a purchaser, that creates two options. The building can be held and operated for its income in the near term, with upside as suites turn over and rents are reset. Or it can be positioned for redevelopment as the Broadway corridor continues to intensify. The site is also close to the Broadway Subway extension, with the future Oak Street station within a short walk, which supports long-term demand for both rental housing and new strata or rental development.

Why it matters for the Westside

Small, older walk-ups on high-density-designated lots remain one of the more active niches in Vancouver’s multifamily market. They sell on a blend of in-place income and land value, and as the Broadway Plan matures, buyers are increasingly pricing in the development potential. Sales like this one give owners of similar buildings along the corridor a useful current benchmark.

If you own an apartment building in Fairview, Mount Pleasant or elsewhere along the Broadway corridor and would like an opinion of current market value, I’d be happy to help.

A two-storey retail building in North Vancouver’s Central Lonsdale neighbourhood has sold off-market for $6,700,000.

The multi-tenant building at 2057 Lonsdale Ave totals 7,121 SF on an 8,712 SF lot with 72.5 feet of frontage along Lonsdale Avenue, and includes underground parking for 23 vehicles. The property is zoned C-2 (General Commercial) and is home to Yaas Grill House on the downstairs unit. The upstairs unit previously leased to Boardroom was vacant at closing, with no word yet on future leasing plans for that space.

As an off-market transaction, the sale didn’t come with public marketing materials, but it adds another notable data point to Central Lonsdale’s retail corridor, where well-located, multi-tenant buildings continue to command strong per-square-foot pricing.

Sale Details

• Sale Price: $6,700,000
• Price per Square Foot: $941/SF
• Building Size: 7,121 SF
• Lot Size: 8,712 SF