$1,650,000 2570 Cyril Street, Abbotsford, BC, Canada Basic facts Description Features Neighborhood Video Sold 1 2 Status: Sold Type: Investment Property Description Original Opportunity: ±13,440 SQFT (0.31 Acre) Gross Site Area SOLD To: Mission Community Skills Centre Society Resulting Community Amenity: “Fraser Valley Artisans Food Hub” Downtown Abbotsford Investment & Redevelopment 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. Key Features Feature 1: SOLD TO Mission Community Skills Centre Society Feature 2: “Fraser Valley Artisans Food Hub” Feature 3: Developing Local Agri-Food Businesses Location Description: 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. View on map / Neighborhood This Investment Property style property. Properties Qty: 2 arigelmon@londonpacific.ca Ari Gelmon is an Associate Vice President and commercial real estate broker with London Pacific. His expertise lies within development land and investment properties including multi-family opportunities with latent value. Raised in Vancouver, Ari brings a unique perspective to buyers and sellers within the Vancouver core; his ability to understand the economic nuances and development direction within the context of regional planning and policy supports his approach to real estate investment and provides his clients with informed and market-sensitive advice. Ari’s enthusiasm for real estate is matched by his desire and commitment to provide the best in service to his clientele. Ari’s entrepreneurship brings innovation and new ideas to his business objectives and makes him a great support to his Jewish community where he is a Committee Member for the annual Chutzpah Festival. alexander@londonpacific.ca Alexander Lougheed began his career in commercial real estate in 2014 and has since garnered in-depth experience in commercial transaction market analysis, city planning policies and development land processes. At London Pacific, Alexander specializes in the origination, marketing, and administration of development land and investment property transactions ranging in size and complexity throughout Metro Vancouver and upcoming development markets across British Columbia. Alexander also holds an honors degree in Urban Development from the University of Western Ontario where his studies focused on financial feasibility of development projects, valuation of income-producing real estate properties, urban and regional planning policies, and business administration. In office, it is Alexander’s experience and robust market knowledge in combination with his drive and work ethic that supports the success of his clients. Out of office, Alexander is an avid outdoor enthusiast who enjoys ski or golf road trips, and culinary-inspired adventures throughout beautiful British Columbia and abroad. Properties Qty: 11 bwilliams@londonpacific.ca As an Executive Vice President at London Pacific, Ben Williams specializes in development, assemblies and investment sales and is a leader in the dynamic Land industry of Metro Vancouver. Ben’s insight on market trends, municipal processes and development requirements plays a crucial role in his ability to deliver impactful marketing solutions and to negotiate multifaceted development contracts. Dedicated to ensuring his clients’ success with over a decade in Commercial Real Estate experience, Ben takes a professional approach to every mandate, offering personal attention to detail through transparent and consistent communication with clients. Ben is experienced in a range of sophisticated acquisitions and dispositions which aid in his ability to successfully navigate the complex and ever-changing market. Ben is a graduate of BCIT’s School of Business and Commercial Real Estate and is an active liaison committee member with the Urban Development Institute (UDI). Along with his brokerage career, Ben also plays a key role in the strategic growth of London Pacific and enjoys quality time with his family. dean@londonpacific.ca Since entering the real estate industry, Dean’s focus has been on the sales and acquisitions of multi-family development sites through the land assembly process. His success stems from his ability to generate and nurture relationships with homeowners and developer clients alike. Dean has a reputation for providing exceptional customer service which, together with his knowledge of the land assembly process, champions his clients through the complexities of real estate development transactions from agency to successful completion. Dean is an avid golfer and spearheads the annual Urban Development Institute’s golf tournament as London Pacific’s team captain. daniel@londonpacific.ca Daniel is an exemplary commercial real estate broker and Associate Vice President. Being highly skilled in negotiations and possessing a compassionate understanding of people, he endeavours towards a win-win solution for any business deal. With a background in Finance and his knowledge in Commercial Real Estate, Daniel has extensive experience working side-by-side with clients, striving towards profitability and financial success in every transaction. While in Retail Brokerage, Daniel worked as the Designated Agent for multiple National retailers, working on first-to-market rollouts, growth and expansion mandates, market feasibility studies, and contract negotiations. With London Pacific, Daniel excels in multi-family designated assemblies, whether it be Townhome, Wood-Frame Apartment, or High-Rise sites. Though he always considers himself on-call, when Daniel is not focused on work, he can be found spending time with his wife and two small children or enjoying the great outdoors. gg grantgardner@londonpacific.ca … Continued