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4351 No. 3 Road, Richmond
Rare and fantastic hold&re-develop investment opportunity on No.3 Road. OCP allows up to 3 FSR, and similar lands nearby have achieved higher density than OCP allowance. This is a commercial re-development site with impressive holding income for the next 10 years. Sitting in the heart of future Richmond CBD, surrounded by beautiful new upcoming commercial developments, this site will achieve extraordinary value after surrounding areas become more developed. The site is currently fully tenanted, and majority of the tenants are paying significantly below-market rates. We have increased net rent on 2019 tenancy replacements significantly, ground floor retail replacements have achieved 118% increase while second floor office units have achieved roughly 50% rental increase. Current NOI roughly 1.35M, we project the rental income to double by the end of 10 years.
- MLS® #C8029600
- Square Footage127,786
- Year Built1976
- Address4351 No. 3 Road
- SubdivisionWest Cambie
- Zip CodeV6X 3A7
- Listing OfficeRE/MAX Crest Realty
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Listing information last updated on April 4th, 2020 at 4:03am PDT.