Property Information:

Presenting an exceptional opportunity for investors and developers, this property offers over 27,700 square feet of prime re-development land. The highest & best use envisions a one-level commercial/retail space accompanied by the potential for 5 levels of wood-frame residential apartments, all topped off with convenient underground parking. Currently operating as a medical building, the property yields an impressive $200,000 Net Operating Income (NOI) annually, with a modest 40% lot coverage. Positioned at the high-visibility corner of 222nd & Dewdney Trunk Road, this location experiences substantial foot & vehicle traffic, enhancing its commercial viability. The property is currently tenanted with solid leases, each extending for five years, contributing to a reliable and diverse tenant mix. Whether considered as a robust revenue-holding asset or a prime candidate for immediate redevelopment, this offering promises an exciting venture in a thriving and strategic locale. Must be purchased with R2849049 (id:27)