Abbotsford Office Building / Development Site
For Sale

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Current Zoning
C-5 City Centre Commercial
Proposed OCP Designation
Urban Centre Mixed-Use
Density
2.5 FSR
Gross Site Area
± 13,440 SQFT (0.31 Acre)
Gross Buildable Area
± 33,600 SQFT
Site Dimensions
± 84 FT x 160 FT
Lot Coverage
95%
PRICE
$1,650,000
Price per buildable SQFT
$49 / BSF

Office Building Investment & Development Opportunity

The space is currently used as offices and an assembly hall. However, the space could be utilized for a variety of other purposes, which may prove more profitable. Under the C-5 zoning, permitted uses include restaurants, pubs, animal hospitals, child care centre, civic uses, retail, indoor recreation facility and many more. This is the perfect asset to cash-flow and eventually redevelop.

 

REDEVELOPMENT VALUE
The 84 ft x 160 ft lot is prime for redevelopment and is currently zoned C-5 (City Centre Commercial). Under the current zoning with a 2.5 FSR, the site can be redeveloped with 33,600 buildable square feet (BSF). Furthermore, the zoning permits up to 6 storeys and 95% lot coverage.

 

INVESTMENT VALUE

In addition to redevelopment value, the subject site provides a savvy investor with the opportunity to lease out the large 6,374 square foot space for a rate in the neighbourhood of $12/SF base rent (as comparables demonstrated). Bring your creative ideas to maximize space and value to increase potential net operating income.

 

 

Prime Location | City centre Abbotsford

Situated in historic downtown Abbotsford, this location is conveniently located near multiple shops and amenities. The neighbourhood is highly walkable and provides an array of restaurants, retailers, schools and parks. Furthermore, the location is seamlessly tied into transit making it desirable for residents.

 

HIGHLIGHTS

+ Large 13,440 SQFT development site
+ Zoned property for mixed-use
+ Build up to 2.5 FSR or 33,600 BSF
+ Potential for strong holding income
+ Rapidly growing neighbourhood
+ Presale condos selling for avg. $519 / SF in Abbotsford

Ari Gelmon
AriGelmon@londonpacific.ca
604.318.3958
Mike Guinan-Browne
MGuinanBrowne@londonpacific.ca
604.805.9904

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