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 (January – April 2026)
The following notable transactions have been recorded across Metro Vancouver in 2026 to date.
Multifamily / Apartment
| Property | Municipality | Sale Price | Cap Rate | Price / Unit | Units | Date |
|---|---|---|---|---|---|---|
| 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 |
| 727 East 17th Avenue (Fraser Street) | Vancouver | $12,500,000 | 4.4% | $694,000 | 31 | Mar 2026 |
| 2280 McGill Street (Grandview-Woodland) | Vancouver | $5,600,000 | n/a | $280,000 | 20 | Feb 2026 |
2026 YTD Multifamily observations: Cap rates on Vancouver apartment buildings range from 3.4% (Kitsilano) to 4.9% (Fairview), reflecting continued compression in high-demand westside neighbourhoods. Price per unit ranges from $280,000 to $694,000 depending on vintage, unit mix, and location. The $694,000/unit figure for the Fraser Street building reflects its 2017 vintage and retail component.
Retail
| Property | Municipality | Sale Price | Cap Rate | Price / SF | GLA (SF) | Date |
|---|---|---|---|---|---|---|
| 1101–1133 Alberni Street (Park Hyatt retail) | Vancouver | $55,000,000 | 5.3% | $1,342 | 40,996 | Mar 2026 |
| 20528–20580 Lougheed Highway (Mageta Medical Centre) | Maple Ridge | $9,300,000 | 5.3% | $673 | 13,817 | Apr 2026 |
| 4041 200th Street (Brookswood Professional Center) | Langley | $11,200,000 | n/a | $394 | 28,399 | Feb 2026 |
2026 YTD Retail observations: Retail cap rates in 2026 are holding at approximately 5.3% for well-leased urban and suburban product. The wide spread in $/SF — from $394 in Langley to $1,342 on Alberni Street — reflects the significant premium commanded by high-street downtown Vancouver retail. Suburban medical and service-oriented retail remains active with strong investor demand.
Mixed-Use & Other
| Property | Municipality | Sale Price | Notes | Date |
|---|---|---|---|---|
| 3155 Kingsway (retail + apartment) | Vancouver | Undisclosed | Fully leased 3-storey retail/apartment | Feb 2026 |
| 3242 Westwood Street (Westwood Square) | Port Coquitlam | Undisclosed | 18,000 SF retail and office plaza | Mar 2026 |
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