Metro Vancouver Commercial Real Estate Market Data
Compiled by David Taylor, Senior Vice President, Colliers International Canada. Updated regularly from transaction data tracked on Vancouver Market since 2013. All figures sourced from publicly reported sales and listings across Metro Vancouver.
2026 Year-to-Date Transactions
The following notable transactions have been recorded across Metro Vancouver in 2026 to date. Summary statistics for April through October are calculated from all apartment, retail and office sales recorded in that period.
April – October 2026 at a Glance
| Asset Class | Sales Tracked (Apr–Oct 2026) | Total Volume | Typical Pricing (Median) | Cap Rates |
|---|---|---|---|---|
| Apartment | 33 sales (1,108 units) | $323 million | $281,818 per unit (Vancouver $304,762) | 2.1% – 6.6% |
| Retail | 40 sales | $502 million | $788 per SF (Vancouver streetfront $1,168) | 2.8% – 4.9% |
| Office | 10 sales | $175 million | $426 per SF (range $359 – $868) | 4.0% – 7.5% |
Multifamily / Apartment
| Property | Municipality | Sale Price | Cap Rate | Price / Unit | Units | Date |
|---|---|---|---|---|---|---|
| St. Andrews Manor | New Westminster | $8,672,980 | 5.9% | $180,687 | 48 | Oct 2026 |
| Twin Hollies | New Westminster | $9,327,020 | 4.8% | $216,907 | 43 | Oct 2026 |
| Swan Court | Maple Ridge | $4,600,000 | 6.3% | $209,091 | 22 | Sep 2026 |
| The Standard Rental | Burnaby | $19,500,000 | n/a | $211,957 | 92 | Sep 2026 |
| 820 Fifth Avenue | New Westminster | $5,300,000 | 3.6% | $203,846 | 26 | Aug 2026 |
| The Coachman | Vancouver | $5,000,000 | 4.0% | $238,095 | 21 | Aug 2026 |
| Santa Monica Apartments | Vancouver | $7,500,000 | 2.1% | $576,923 | 13 | Aug 2026 |
| Balmoral Apartments | Burnaby | $12,200,000 | n/a | $277,273 | 44 | Aug 2026 |
| 958 East Broadway | Vancouver | $3,090,000 | 6.6% | $206,000 | 15 | Aug 2026 |
| Louisa Court | Vancouver | $5,500,000 | 4.7% | $323,529 | 17 | Jul 2026 |
| St. Michelle Apartments | New Westminster | $5,400,000 | 4.9% | $257,143 | 21 | Jul 2026 |
| Osler Pines | Vancouver | $5,439,000 | 4.5% | $259,000 | 21 | Jun 2026 |
| Harvard Apartments | North Vancouver | $12,250,000 | 4.0% | $382,813 | 32 | Jun 2026 |
| Erwill Apartments | Vancouver | $10,650,000 | n/a | $355,000 | 30 | Jun 2026 |
| Newport & Kirya Apartments | Vancouver | $20,350,000 | 4.5% | $391,346 | 52 | Jun 2026 |
| 644 East Victoria Park Avenue | North Vancouver | $3,000,000 | 5.9% | $300,000 | 10 | Jun 2026 |
| Stanita Court | North Vancouver | $4,700,000 | 4.0% | $335,714 | 14 | May 2026 |
| Patricia Apartments | North Vancouver | $3,300,000 | 3.8% | $275,000 | 12 | May 2026 |
| Point Grey Apartments | Vancouver | $3,280,000 | 3.7% | $410,000 | 8 | May 2026 |
| Grande Manor | Vancouver | $6,100,000 | 5.1% | $290,476 | 21 | May 2026 |
| 11 East 11th Avenue | Vancouver | $12,300,000 | n/a | $292,857 | 42 | May 2026 |
| 5087 Irving Street | Burnaby | $10,500,000 | 4.8% | $328,125 | 32 | May 2026 |
| Mount View Terrace | Vancouver | $13,300,000 | 3.6% | $316,667 | 42 | May 2026 |
| Prince Rupert Villa | Vancouver | $10,640,000 | 4.9% | $280,000 | 38 | Apr 2026 |
| 727 East 17th Avenue (Fraser Street) | Vancouver | $21,500,000 | 4.4% | $694,000 | 31 | Mar 2026 |
| 2250 York Avenue (Kitsilano) | Vancouver | $5,995,000 | 3.4% | $428,000 | 14 | Mar 2026 |
| 1035 West 12th Avenue (Fairview) | Vancouver | $2,895,000 | 4.9% | $289,500 | 10 | Mar 2026 |
| 2280 McGill Street (Grandview-Woodland) | Vancouver | $5,600,000 | n/a | $280,000 | 20 | Feb 2026 |
Apartment observations (April – October 2026): Vancouver buildings traded at a median of $304,762 per unit and a 4.5% median disclosed cap rate, with a wide spread from 2.1% on a 13-unit share sale (Santa Monica Apartments) to 6.6% on an East Broadway building. Outside Vancouver, disclosed cap rates ranged from 3.6% to 6.3% (median 4.8%), with New Westminster and Maple Ridge pricing between roughly $180,000 and $260,000 per unit. North Vancouver produced the highest suburban pricing, including Harvard Apartments at $382,813 per unit and a 4.0% cap rate.
Retail
| Property | Municipality | Sale Price | Cap Rate | Price / SF | GLA (SF) | Date |
|---|---|---|---|---|---|---|
| 212 East 26th Avenue & 4216 Main Street | Vancouver | $6,850,000 | n/a | $1,228 | 5,576 | Oct 2026 |
| 3589 – 3599 Commercial Street | Vancouver | $3,700,000 | n/a | $617 | 6,000 | Oct 2026 |
| 1816 – 1818 Commercial Drive | Vancouver | $3,328,000 | n/a | $1,193 | 2,790 | Oct 2026 |
| 2171 West 41st Avenue | Vancouver | $4,300,000 | n/a | $1,624 | 2,647 | Sep 2026 |
| Newton Square | Surrey | $26,800,000 | n/a | $548 | 48,900 | Sep 2026 |
| 5335 Kingsway | Burnaby | $38,500,000 | n/a | $903 | 42,624 | Sep 2026 |
| 4051 No. 5 Road | Richmond | $14,000,000 | n/a | $740 | 18,907 | Sep 2026 |
| 8790 204th Street | Langley | $9,800,000 | n/a | $694 | 14,123 | Aug 2026 |
| 2134 West 41st Avenue | Vancouver | $4,510,000 | n/a | $1,703 | 2,648 | Aug 2026 |
| 400 Main Street | Vancouver | $3,000,000 | n/a | $148 | 20,220 | Jul 2026 |
| 3290 Grandview Highway | Vancouver | $3,860,000 | 3.5% | $874 | 4,414 | Jul 2026 |
| 1215 56th Street | Delta | $18,200,000 | 4.8% | $650 | 28,010 | Jul 2026 |
| 2057 Lonsdale Avenue | North Vancouver | $6,700,000 | n/a | $941 | 7,121 | Jul 2026 |
| 108-112 East Hastings Street | Vancouver | $8,450,000 | n/a | $462 | 18,300 | Jul 2026 |
| D.E. Mellis Building | Langley | $8,657,000 | n/a | $926 | 9,353 | Jun 2026 |
| 2239A Granville Street | Vancouver | $9,669,021 | n/a | $776 | 12,464 | Jun 2026 |
| 8380 112th Street | Delta | $8,825,000 | 4.5% | $1,672 | 5,278 | May 2026 |
| 3208-3244 Oak Street | Vancouver | $7,200,000 | 3.4% | $1,029 | 6,996 | May 2026 |
| 1802 Marine Drive | West Vancouver | $9,500,000 | 2.8% | $1,418 | 6,700 | Apr 2026 |
| 12825 16th Avenue | Surrey | $12,700,000 | n/a | $475 | 26,755 | Apr 2026 |
| 1047 Denman Street | Vancouver | $3,420,000 | n/a | $1,966 | 1,740 | Apr 2026 |
| 5948 200th Street | Langley | $3,450,000 | 4.9% | $380 | 9,090 | Apr 2026 |
| 20528–20580 Lougheed Highway (Mageta Medical Centre) | Maple Ridge | $9,300,000 | 5.3% | $673 | 13,817 | Apr 2026 |
| 16793 60th Avenue | Surrey | $3,600,000 | 4.4% | $563 | 6,391 | Apr 2026 |
| 4205 Dunbar Street & 3606 West 26th Avenue | Vancouver | $5,250,000 | n/a | $1,144 | 4,588 | Apr 2026 |
| 1101–1133 Alberni Street (Park Hyatt retail) | Vancouver | $55,000,000 | 5.3% | $1,342 | 40,996 | Mar 2026 |
| 4041 200th Street (Brookswood Professional Center) | Langley | $11,200,000 | n/a | $394 | 28,399 | Feb 2026 |
Retail observations (April – October 2026): Pricing varies widely by format and location. Vancouver streetfront retail traded at a median of $1,168 per SF, led by small-format Westside and West End buildings such as 1047 Denman Street ($1,966/SF) and 2134 West 41st Avenue ($1,703/SF). Suburban free-standing and neighbourhood retail in Surrey, Langley, Delta and Richmond generally traded between roughly $375 and $925 per SF. Cap rates ranged from 2.8% to 4.9% , with the lowest on West Vancouver’s Marine Drive (2.8%) and Vancouver’s Oak Street (3.4%). Larger transactions included 5335 Kingsway in Burnaby ($38.5 million), Newton Square in Surrey ($26.8 million) and 1215 56th Street in Delta ($18.2 million).
Office
| Property | Municipality | Sale Price | Cap Rate | Price / SF | Building (SF) | Date |
|---|---|---|---|---|---|---|
| 780 Beatty Street | Vancouver | $18,000,000 | User | $380 | 47,344 | Sep 2026 |
| 59 – 65 West Pender Street | Vancouver | $5,000,000 | n/a | $424 | 11,791 | Aug 2026 |
| 5461 12th Avenue | Delta | $3,000,000 | 4.5% | $408 | 7,346 | Jul 2026 |
| 1185 West Georgia Street | Vancouver | $74,000,000 | Low 4% | $446 | 165,855 | Jul 2026 |
| Renfrew Business Centre – Phase 1 | Vancouver | $35,000,000 | n/a | $429 | 81,662 | Jul 2026 |
| 7460 Edmonds Street | Burnaby | $5,750,000 | User | $816 | 7,048 | Jun 2026 |
| 1777 West 8th Avenue | Vancouver | $6,250,000 | User | $868 | 7,202 | Jun 2026 |
| 93 Sixth Street | New Westminster | $4,000,000 | 4.6% | $359 | 11,127 | May 2026 |
| 5 East 8th Avenue | Vancouver | $18,000,000 | User | $542 | 33,219 | Apr 2026 |
| 33386 South Fraser Way | Abbotsford | $5,950,000 | 4.0% | $413 | 14,410 | Apr 2026 |
Office observations (April – October 2026): Office activity was limited to 10 recorded sales, mostly smaller buildings plus a few large Vancouver transactions. Users are common buyers in this market as opposed to traditional investors. Pricing has ranged from $359 per SF to $868 per SF. The largest sale was the share sale of 1185 West Georgia Street at $74.0 million ($446 per SF).
2026 Cap Rates Observed Compared with 2025 Benchmarks
Cap rates below are drawn from sales in 2026 that disclosed one, so the sample is smaller than the number of sales. They should be read as indicators rather than market averages.
| Asset Class | 2025 Range (Metro Vancouver) | 2026 Observed (Apr – Oct) | Notes |
|---|---|---|---|
| Apartment (Vancouver) | 3.0% – 4.0% westside; 4.0% – 5.5% eastside | 2.1% – 6.6% (median 4.5%, 10 sales) | Wide spread, from 2.1% on a share sale to 6.6% on an East Broadway building |
| Apartment (suburbs) | 4.0% – 5.5% | 3.6% – 6.3% (median 4.8%, 10 sales) | New Westminster and Maple Ridge at the higher end; North Vancouver at 3.8% – 5.9% |
| Retail | 4.5% – 5.5% urban; 5.0% – 6.5% suburban | 2.8% – 4.9% (7 sales) | Lowest cap rates on West Vancouver Marine Drive, Oak Street and a single-tenant net lease sale |
| Office | 5.5% – 7.5%+ | 4.0% – 4.6% (3 sales) | Small suburban buildings only; not representative of larger office pricing |
2025 Full Year — Selected Notable Transactions
Greater Vancouver commercial real estate transactions were down 8.3% in 2025 compared to 2024, reflecting continued uncertainty around interest rates and a cautious buyer pool. Despite lower volume, select asset classes — particularly purpose-built rental and suburban retail — remained active.
Key 2025 Cap Rate Benchmarks by Asset Class
| Asset Class | Cap Rate Range (Metro Vancouver) | Notes |
|---|---|---|
| Apartment (Vancouver westside) | 3.0% – 4.0% | Continued compression; land value dominant |
| Apartment (Vancouver eastside / suburbs) | 4.0% – 5.5% | More yield-driven buyers |
| Retail (urban, high-street) | 4.5% – 5.5% | Dependent on tenancy and lease term |
| Retail (suburban / strip) | 5.0% – 6.5% | Medical and service tenancies most sought after |
| Office | 5.5% – 7.5%+ | Wide range; vacancy concerns weigh on pricing |
| Industrial / Land | Varies widely | Land value and development potential dominant |
Development Activity — Notable Applications (2025–2026)
Vancouver Market also tracks rezoning and development permit applications across Metro Vancouver. Key projects in progress include:
- 601 West Cordova Street, Vancouver — Cadillac Fairview proposing a 22-storey, 417,000 SF office tower adjacent to Waterfront Station. Designed by James Cheng Architects. Application submitted January 2026.
- 486 West 26th Avenue, Vancouver — Rezoning application for a 12-storey, 52-unit concrete rental tower (up from a previously approved 6-storey condo). Density: 4.91 FSR. Application submitted February 2026.
- 401 & 421 Kingsway, Vancouver (Mount Pleasant) — Two adjoining applications: a 12-storey, 100-unit condo and a 24-storey, 253-unit rental tower under the Broadway Plan. Application submitted January 2026.
- 1149–1155 Lynn Valley Road, North Vancouver — DP-approved 6-storey, 66-unit market rental woodframe building (2.88 FSR) currently listed for sale. April 2026.
About This Page
This Data Hub is updated regularly as new transactions are posted to Vancouver Market. It is intended as a reference for investors, brokers, appraisers, lenders, and researchers tracking commercial real estate pricing trends in Metro Vancouver, British Columbia.
Data is compiled from publicly reported sales, listing materials, and broker announcements. Cap rates and per-unit/per-SF figures are reported as disclosed at time of sale and may reflect in-place income rather than market income. This page does not constitute investment advice.
For the full transaction archive, browse by asset class: Apartment | Retail | Office | Land | Development
Questions or corrections: david.taylor@colliers.com