OPPORTUNITY: Iconic Properties Group introduces a lucrative investment opportunity— a renovated standalone building in Strathcona, fully leased to professionals. Upgraded extensively in 2020, it features modern amenities, seismic resilience, and M-2 zoning with 5.0 FSR redevelopment potential. Recent improvements include a state-of-the-art electrical system with energy-efficient LED lighting, advanced HVAC infrastructure, and a modern sprinkler system. Conveniently located for easy access to Vancouver's core and Highway 1, this property offers strategic positioning. Notably, it includes built-in rental escalations, ensuring the potential for increasing returns. With a desirable 4.4% cap rate, secure a hassle-free, income-producing asset in a thriving area. Don't miss this chance to invest in a meticulously upgraded property, strategically poised for future growth and financial stability.
LOCATION: 786 Powell Street is located in between the well-known neighbourhoods of Railtown and Strathcona in Vancouver's Downtown Eastside. This area features multiple uses including industrial, retail, and an emerging amount of tech and business professionals. This area is becoming more and more desirable as it has numerous restaurants, showrooms, fashion studios, and offices for tech firms. Neighbouring tenants include Ask for Luigi, Aritzia, Railtown Cafe, Starbucks, Vancouver Urban Winery, Herschel Supply Co., and Bloom Furniture Studio. The site has easy access to Highway 1 to enter the North Shore or the rest of Metro Vancouver & the Fraser Valley, and it boasts fantastic proximity to the Port of Metro Vancouver and Downtown Vancouver.
