Abbotsford Portfolio Brochure - Commercial Real Estate Vancouver

Abbotsford Portfolio Brochure - Commercial Real Estate Vancouver

Partnership. Performance.
Union Avenue
Janzen Street
So
ut h
se r
Fra
y
Wa
FOR SALE
Abbotsford Portfolio Opportunity – First Time on the Market
1. 100% Leased Retail Building
2. RML Zoned Development Land
3. 62 Unit Rental Apartment Building
Opportunity to offer on the entire portfolio or on an
individual basis.
Rob Greer*, Principal
604.647.5084
[email protected]
*Personal Real Estate Corporation
Bill Elliott, Principal
604.647.5062
[email protected]
Amanda Payne, Senior Analyst
604.646.8389
[email protected]
Leeanna Petrik, Associate
604.647.5087
[email protected]
ABBOTSFORD
INVESTMENT
PORTFOLIO
ABBOTSFORD INVESTMENT PORTFOLIO
31790 UNION AVENUE, 2524/2536 JANZEN STREET & 31789 SOUTH FRASER WAY
ABBOTSFORD, BC
Location
The subject portfolio is situated in the Townline/Clearbrook neighbourhood of Abbotsford, BC. It is conveniently located along
South Fraser Way, just minutes from the Trans Canada Highway offramp, Clearbrook Shopping District and Abbotsford’s newest
shopping centre, High Street Mall.
Opportunity
99 First time on the market
99 All properties will be provided clear title
99 Acquire the entire portfolio or select individual sites
99 Capitalize on historically low interest rate environment
99 Environmental Phase 1 completed
Portfolio Highlights
Huron Court
31790 Union Avenue
•
•
•
•
•
•
62 unit multi-family property
Below market vacancy
Well maintained building
No significant capital
expenditures required
Value add opportunity
Professionally managed
2524/2536 Janzen Street
•
•
•
•
31789 South Fraser Way
Well located off of a main
thoroughfare (South Fraser Way)
RML zoned development land
1.7 FSR
Holding Income
•
•
•
•
•
ut
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Wa
Clearbrook Road
So
ras
hF
0% vacancy
Strong Covenant Tenant in place
Well positioned with
excellent visibility
Well maintained, newly
painted building
Ample parking
All aerial imagery courtesy of Google, DigitalGlobe.
Portfolio Offering
Huron Court
31790 Union Avenue
PID
2524/2536 Janzen Street
Development Land
005-677-513
Site Area
52,272 sf
OCP
Classification
City Residential
Zoning
RML
Unit Mix
1-Bdrm
40
2-Bdrm
22
Total
62
PID
006-716-270
Site Area
51,923 sf
OCP
Classification
City Residential
Zoning
RML
Permitted Use
Allowable
Density
31789 South Fraser Way
Retail
Apartment & Congregate
Apartment Use
Max Floor Space Ratio
(FSR): 1.4 FSR, may be
increased to 1.7 FSR
Leasable Area
43,960 sf
Allowable
Height
70 ft or 6 storeys
NOI Projection
$336,277
Lot Coverage
40% may be increased to 45%
Cap Rate
4.67%
Gross
88,269 sf
Buildable Area
Price
$7,200,000
Price
$1,100,000
Price Per Door
$116,129/door
Price Per Acre
$924,370/acre
PID
006-716-156
Site Area
31,537 sf
OCP
Classification
Commercial
Zoning
C4 (Service Commercial)
Leasable Area
10,510 sf
NOI
$123,303
Cap Rate
4.9%
Price
$2,500,000
Price Per sf
$238/sf
Total Purchase Price: $10,800,000
Demographic Snapshot
Abbotsford Multi-Family Market
Total Population
The average apartment vacancy Rate in the Abbotsford-Mission CMA was
stable at 3.1% - the lowest it’s been since 2008.
Abbotsford (CY)
2011 Census*
137,686
2013 estimated
142,881
Demand is keeping pace with New Supply. Demand for rental accommodation
was up in 2014 compared to last year – supported by an increase in the population.
2016 projected
149,631
Source: CMHC, Vancouver-Abbotsford Fall 2014 Rental Market Report
2018 projected
154,133
2023 projected
167,551
Avg. Household Income
Abbotsford (CY)
2013 estimated
$84,904
2016 projected
$94,548
2018 projected
$101,016
Source: PCensus
Apartment Rental Statistics
Townline / Clearbrook Rental Market Stats
Bachelor
1 bed
2 bed
3 bed
Total
Vacancy Rate
2.90%
3.10%
2.60%
4.80%
2.80%
Average Rent
$608
$707
$838
$974
$778
# of Units
34
752
941
21
1748
Source: CMHC; Rental Market Survey
Legacy Sports
Centre
Colleen &
Matsqui
Gordie Howe Recreational
Middle School
Centre
Abbotsford
City Hall
Old Yale Road
She’s Fit
Fitness Club
Subject Properties
ns
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West Oaks Mall
Sevenoaks
Shopping Centre
Clearbrook Road
Tr
a
MacLure Road
M J Mouat
Secondary
Ca
na
da
Hi
gh
w
ay
Source: Google, DigitalGlobe
Partnership. Performance.
Avison Young Commercial Real Estate Inc.
#2100-1055 W. Georgia Street
Box 11109 Royal Centre
Vancouver, BC V6E 3P3, Canada
Rob Greer*, Principal
604.647.5084
[email protected]
*Personal Real Estate Corporation
Bill Elliott, Principal
604.647.5062
[email protected]
Amanda Payne, Senior Analyst
604.646.8389
[email protected]
Leeanna Petrik, Associate
604.647.5087
[email protected]
avisonyoung.com
© 2015 Avison Young (Canada) Inc. All rights reserved.
E. & O.E.: The information contained herein was obtained from
sources which we deem reliable and, while thought to be correct, is
not guaranteed by Avison Young Commercial Real Estate (BC) Inc.