4351 No. 3 Road, Richmond

$49,999,999

0 Beds
0 Baths
127,786 Sqft
127786 Acres
0 Garages

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. (id:6289)

Essential Information
Listing #C8029600
Price$49,999,999
Bathrooms0.00
Square Footage127,786
Acres127,786.00
Year Built1976
TypeRetail
Community Information
Address4351 No. 3 Road
CityRichmond
ProvinceBritish Columbia
Postal CodeV6X3A7
Listing Details
OfficeRE/MAX Crest Realty
LISTING MAP

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