A unique opportunity to acquire a medical office building with redevelopment upside in Vancouver’s Marpole neighbourhood. The subject property is currently improved with a 5,740 square foot, two-storey office building comprised of four units. There are pliable lease agreements in place allowing for end-user applications, repositioning and/or future redevelopment. The Local Area Plan allows for a mixed-use development up to 12 storeys with a gross buildable of 26,384 square feet.
LOCATION
The site is situated mid-block at the southwest corner of Granville Street and W 71st St in Vancouver’s Marpole neighbourhood. It is positioned along a major arterial route, providing access to the City of Richmond, Downtown Vancouver, YVR and UBC. The area boasts a myriad of high-end amenities, including numerous parks, schools, golf courses, restaurants and retail shops.
DEVELOPMENT PRECEDENT
The neighbouring site, located at 8655 Granville St, recently transacted in 2024 for $305/bsf. Their development application is conditionally permitted for:
11-storey, mixed-use building
58 dwelling units, CRUs and 2-floor office
Floor Space Ratio of 4.1
A floor area of 61,877 sf
Height of approximately 126 ft
Three levels of underground parking
Address
8675 Granville Street
List Price
$1
Type of Dwelling
Office
Sub-Area
Vancouver
Floor Area
6,435 Sq. Ft.
Listing Brokerage
Macdonald Commercial
