DEAL | A high-exposure commercial property at 5948 200 St., Langley, sold April 15 for $3.45 million. Built in 1961 on a 0.46-acre site and zoned C2 (service commercial), the 9,090-square-foot building offers three rental units (two turn over within the next 18 months) and outdoor storage space leased through 2028. Revenue from the diversified tenant base supported a 4.9 per cent cap rate at sale. Located 750 metres from the planned Langley City Centre SkyTrain station, the property is designated for “mixed employment,” which envisions commercial projects up to six storeys with a floor space ratio of 3.0.
PRICE | $3,450,000
FROM | Mark Goodman, Megan Johal and Ian Brackett, Goodman Commercial Inc.
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