I have listed a new property at 33723 ESSENDENE AVE in Abbotsford.
Freestanding Commercial building on Essendene Avenue, main artery road to Mission and east Abbotsford. Solid 2x24 construction bean. 2 dock loading stalls through back lane access plus ample of street parking in front. 2 units on street level, 33721 (1400sf) is leased and occupied by a cell phone store paying a monthly net rent of $1750+ NNN. 33723 (1420sf) is occupied by a game store with a monthly net rent of $1670+NNN on a month to month basis. Basement storage is leased for $775 gross rent a month. Same Owner for the past 18 years who is seeking retirement. Zoning allows wide variety of usages including Coffee shop/restaurant, office, child care services & retails.
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I have listed a new property at 33723 ESSENDENE AVE in Abbotsford.
Solid 2'x24' beam construction. Property has 2 civic numbers, 33721 and 33723. 33721 is currently leased to a cell phone store with a 5 years lease ending Sept 2025 + a 2 x 3 years renewal option. 33723 is leased to a Game Store, a long time tenant with lease ending June 30th 2020 plus option to renew. 2 units in basement leased to the same Tenant till May 31, 2021. Historic Downtown Commercial Zone (C7) permitted wide range of retail and office uses. Roof was repaired in 2016 with a 15 years warranty. Newer HVAC unit and hot water tank. 2 parking stalls/dock loading through back lane access. Current CAP rate of 3.6%. Condo developments coming to this neighborhood, excellent holding property!!
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