49.182304 -123.13805

4351 NO. 3 ROAD Richmond, BC V6X 3A7

Helene Tougas
Helene Tougas
Associate
101, 1020 Austin Avenue Coquitlam BC V3K 3P1
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258659465 49.182304 -123.13805 734 /listing/258659465-150112742/4351-no-3-road-richmond-bc-v6x-3a7 False 0 50000000 127786 101 C8029600 False
  • $50,000,000
  • 4351 NO. 3 ROAD Richmond, BC V6X 3A7
  • 127,786 sqft

Property & Neighborhood Info

Courtesy Of RE/MAX Crest Realty

Commercial in 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.

Courtesy Of RE/MAX Crest Realty
  1. 127,786 Sq. Ft.

Main Features

  • Listing Status: Active
  • MLS® Number:C8029600

Additional Features

  • Style:
    • Retail
  • Floor Area Fin - Main Flr:
    • 0
  • Short Region Code:
    • Vancouver
Neighborhood info courtesy of Homes.com © 2020