JUST LISTED Chinatown Development Site and Investment Opportunity – 555 Gore Ave, Vancouver – SOLD
Address: 555 Gore Ave. Vancouver, BC
List Price: $7,199,000
Max Height Restriction: 90′
Potential Buildable: 45,000
Lot Size: 5150 sqft
Current Retail Leased Area: 9600 sqft
NET INCOME: $166,800 per year
Unique, highly sought after & extremely RARE DEVELOPMENT CORNER site in the heart of Chinatown. HA-1A zoning allows for up to 90′ in height with potential rezoning up to 120′. 49.5′ exposure on Keefer St & over 122′ exposure on Gore Ave. The property is currently leased to great tenants for NET LEASE of $166,800. Current CAP RATE at approx 2.9% per annum. Over the recent years the City of Vancouver has increased the density and is open to redevelopment of the neighbourhood.
The current zoning allows for 90’ height development and has the potential for rezoning to 120’
Due to high demand and overwhelming response on this property we are conducting a bidding process for this sale. If you are interested in submitting an offer or would like to be kept informed with the selling process please fill out the form at the bottom of this page.