- What Westwood Square is for sale in Port Coquitlam
- Why With a 4.2% cap rate, the property has NOI of $409,000
- What next The square has below market rents, offering a chance to increase income
A commercial centre in suburban Vancouver has been listed for sale at close to $10m.
Westwood Square, at 3242 Westwood Street in Port Coquitlam, is on the block for $9.8m. The 22,000 sq ft building includes 17,700 sq ft of leasable area. It was constructed in 2002.
Colliers has the marketing assignment.
According to marketing materials, the property has a 4.2% capitalization rate based on current annual net operating income of $409,000. Its rents are below market, which “presents an immediate opportunity to increase income.”
A km from the Coquitlam Centre mall, the property’s tenants include Pizza Factory, Telus and Uncle Moe’s Donair.
Westwood Square is 800 metres from Coquitlam Central SkyTrain station.
