Vancouver Commercial & Office Buildings
Commercial buildings include office buildings and mix-used buildings with retail and office tenants. A commercial building may range from the very small stand-alone retail and/or mixed-used building with to very large multi-tenant office buildings. A professional building catering to the medical practitioners is highly sought by investors. The lowest priced commercial buildings in Vancouver may cost just a couple of million dollars, while the prime Vancouver commercial buildings can cost several hundred million dollars.
Unlike the residential property, commercial buildings are mainly income-driven. There are three main groups of commercial buildings consisting of offices, mixed-used properties and retail shopping properties. Private investors in Vancouver are a very small per centage of commercial property buyers compared to institution investors. Although the market share for private investors is small, it is a significant and growing market.
Buying A Commercial Building for Cash Flow
In today’s market, the key is to be a good manager of the commercial buildings you own and work closely with your tenants, who are your customers.
“If you buy well, fix the building and then sell smart, you will be successful whether you buy in Vancouver or the surrounding cities like Richmond, Burnaby or Coquitlam”.
For many small investors, grade A office properties are too expensive. There are opportunities in refurbishing older buildings. Retail and mixed-used building is best suited in the next cycle to those prepared to actively and imaginatively manage their asset.
In metro Vancouver, the average commercial building investment in dollar value is more than $3 million. For a small investor, the key to buying a good commercial property with strong upside potential is working with a local commercial realty group who work closely with other Vancouver commercial Realtors in the area. There are many smaller commercial buildings in Vancouver and the surround cities that are off the radar of big commercial companies and pension funds.
Depending on the qualify of the property, the price of a commercial property in Vancouver may range from $2.0 to over $30 million. Professional buildings, mixed-used retail. office and residential buildings and apartment buildings are sought by many investors.
There are many such commercial buildings in Vancouver and the surrounding cities. But, finding a good property with great cash flow is not easy.
New Commercial Buildings
In thriving neighborhoods and areas where population growth and good potential for future developments, investors are buying land parcels to be assembled for mixed-used or purposed-built commercial buildings. In Vancouver, properties around areas along West Broadway, East Hastings, Kingsway, Arbutus and Dunbar are highly sought by investors and developers. These buyers tend to look pass the current low cash flow, but they are angling for the huge gain that they can achieve through densification and redevelopment of their properties.
If you like to find out the list of Vancouver commercial buildings for sale, kindly contact James Wong at 604-721-4817, or send us an email.
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