- What A Vancouver strip mall is on the block for $14.5m
- Why The property’s 12 units are fully leased
- What next The site offers potential for redevelopment
A fully occupied strip mall in Vancouver has hit the market at a 2.3% initial annual yield, Green Street News can reveal.
The 18,000 sq ft Queen’s Plaza is listed for $14.5m. LeHomes Realty Premier has the marketing assignment.
Tenants at the 12-unit plaza include Glamour Eyes Optical, Lemongrass restaurant, Market Alley Meat and Saigon Pharmacy. The longest lease expires in 2026.
The property, at 1066 Kingsway at the intersection with E 20th Avenue, is in the Kensington-Cedar Cottage neighbourhood.
The sales campaign highlights the possibility for redevelopment, touting the potential for “spectacular views” of downtown Vancouver, 5 km northwest, and the North Shore Mountains. There’s a new 14-storey mixed-use development across the street.
