Commercial Land for sale
3880 No 3 Road, West Cambie, Richmond
$4,300,000
$4,300,000
Commercial Land for sale
3880 No 3 Road, West Cambie, Richmond
Features
Lot Size
18,212 sqft
Gross Property Tax
$63,780.99 /year
Zoning
ZC1
Subject Property Width
148 ft
Permitted Land Use
Other
Water Supply
Municipal
Sewer/Septic
Municipal/Community
Description
Stabilized FREEHOLD INVESTMENT opportunity along Richmond’s Golden Corridor! 18,212 sq.ft lot with 148’ of frontage along No. 3 Rd and across the street from Aberdeen Station on the Canada Line. OCP designated for high density (up to 3.0 FSR) as part of "Aberdeen Village Urban Centre T5", zoned for a wide range of COMMERCIAL uses. Land is currently leased long term (68 remaining years) to the Radisson Hotel and partially subletted to BMO. Purchaser to assume the existing triple net lease (including multiple escalation clauses) providing a stable return while owning a prime parcel for future redevelopment. The yearly net income for both 2023 and 2024 is $130,000 per annum.
MLS® Number C8055448