Description

Big discount below Jul 2024 BC Ppty Tax Assessed Value $5.645M. Starting price $80 per Buildable SQFT or $400 per SQFT of land. Existing old timer warehouse w/ 8,540 SF of leaseable area. Recently vacant w/ mkt rents of $20 per SF Net = 4% cap rate. Adjacent bldgs same owner 1642 & 1636 Pandora also on MLS, use 1642 Pandora together as side wall open pass thru w/ dbl fire rollup gate for addtl 8,221 SF space. Heavy Industrial redevelopment site, 2 blks North of E. Hastings at Commercial Dr., & 3 blks South of Port of Van. waterfront, in East Van. Site is 10,736 SQFT of land & 88 FT of frontage along Pandora St. First time to sales market in approx. 50 yrs. Present M2 zoning allows Floor Space Ratio to 5.0 times the site size (53,680 buildable SQFT) for allowed uses of manufacturing, wholesaling, transportation & storage. Site is directly across the 4 storey PS Public Storage (74K SF flr area) & directly behind the newer 7 storey SmartStop Storage (90K SF). 2021 Phases 1 & 2 Environmental Analysis done.