A single-tenant streetfront retail building at 1047 Denman Street in Vancouver’s West End has sold for $3,420,000 — or $1,966 per square foot — in what is one of the highest $/SF results recorded for a small-format retail property in the neighbourhood.

The 1,740 SF single-storey building, constructed in 1954, sits on a 2,178 SF (32 x 66 foot) C-5 zoned lot in the heart of Denman Village, steps from English Bay and Stanley Park. The property was fully occupied at the time of sale by Sushi Aboard, with a lease running through August 2029. The reported NOI was $70,013, implying a going-in yield of approximately 2.0%.

Details:

• Purchase Price: $3,420,000
• Price per SF: $1,966
• Building Size: 1,740 SF
• Tenant: Sushi Aboard
• Lease Expiry: August 2029
• NOI: $70,013

The sale price exceeded the $3,295,000 asking price, reflecting the competitive demand for freehold retail properties in high-traffic West End locations. Denman Street’s pedestrian traffic, tourism exposure, and position within Vancouver’s most densely populated neighbourhood support the significant premium.

The West End Community Plan designates Denman Village for mixed-use development up to 2.2 FSR and 60 feet in height, providing potential longer-term redevelopment optionality for the purchaser beyond the current income stream.

The sale was brokered by Sheldon Scott and Arjen Heed of Sitings Realty.

A 38-unit apartment building known as Prince Rupert Villa, at 727 East 7th Avenue in Mount Pleasant has sold for $10,640,000.

The 3-storey wood frame building was constructed in 1972 on a 17,729 SF (0.41 acre) lot with 145.5 feet of frontage on East 7th Avenue. The suite mix comprises 23 one-bedrooms, 12 studios, and 3 two-bedrooms, with 26 underground parking stalls. Based on a reported net operating income of $526,841, the transaction reflects a going-in cap rate of 5.0%.

Details:

• Purchase Price: $10,640,000
• Price per Unit: $280,000
• Cap Rate: 5.0%
• Number of Units: 38
• Building Type: 3-storey wood frame (1972)
• Site Area: 17,729 SF (0.407 acres)
• NOI: $526,841
• Zoning: RM-3

The $280,000 per unit result is notable in the context of recent Mount Pleasant apartment activity. In November 2025, a 23-unit walkup in the same neighbourhood sold for $7,550,000 ($328,261 per unit) at a 4.0% cap rate. Earlier, a 20-unit building at 2575 Windsor Street traded at $6,600,000 ($330,000 per unit) at a 3.2% cap rate. At $280,000 per unit, the East 7th Avenue sale reflects a wider cap rate (5.0%) and correspondingly lower per-unit pricing — likely a function of the building’s unit mix, which is heavily weighted toward studios and one-bedrooms.

The property is located within the Broadway Plan’s Mount Pleasant North Apartment Area — Area B, which designates the site for mid- to high-rise residential use and is eligible for rezoning. Several significant rezoning applications have been filed in the immediate area, including a 22-storey, 273-unit rental tower proposed at East 2nd and Brunswick Street and a 19-storey, 175-unit rental tower at 523-549 East 10th Avenue, both being considered under the Broadway Plan.

The sale was brokered by Goodman Commercial Inc.

Marquee Group has submitted their rezoning application for the site they own at 2777 Oak Street; at the Northwest corner of Oak and West 12th, just West of Vancouver General Hospital. The proposal calls for a 26-storey hotel tower under the Broadway Plan and Transit-Oriented Areas Rezoning Policy.

Key stats:

• 314 hotel rooms
  • 160 short term stay, 154 long term stay
• 12.4 FSR
• 308 ft in building height

Ground-floor commercial space is included in the proposal.

The project architect is B+H Architects.

A rezoning application has been filed to redevelop 3696 Kingsway, a Telus ‘Central Office’ at the Southwest corner of Boundary and Kingsway that has housed telecommunications equipment for many years.

The application by LPI Management (Ledcor), seeks to rezone the site from C-2 to allow:

• 233 rental units;
• 10,100 SF of retail space;
• a 2-storey telecommunications facility;
• a total density of 6.43 FSR

The full application can be viewed at shapeyourcity.ca/3696-kingsway.

The architect for the project is Arcadis.

A freestanding single-storey corner retail building at 4205 Dunbar Street in Vancouver has sold for $5,250,000, or $1,144 per square foot. The property, which most recently operated as an RBC Royal Bank branch, sits on the corner of Dunbar Street and West 26th Avenue in the heart of Dunbar Village.

• Sale Price: $5,250,000
• Price per Sq. Ft.: $1,144
• Cap Rate: Not disclosed
• Building Area: 4,588 SF
• Lot Area: 5,314 SF (43.05′ × 123′)
• Year Built: 1990
• Zoning: C-2 Commercial

The deal was brokered by Marcus & Millichap. The property had been listed at $5,750,000.

The building was offered vacant and had been marketed for both sale and lease, with a proposed net rent of $60.00 PSF and estimated additional rent of $22.00 PSF, suggesting an investor or owner-user play rather than a straightforward income acquisition.