Another South Surrey sale, this time brokered by the team at MacDonald Commercial Realty including the Goodmans, is the retail commercial property located at 1938 152nd Street. The property boasts multi-family development potential (for an additional 100,000sf based on 2.5 FSR) with holding income and is located very close to the Semiahmoo Shopping Centre that recently sold. The selling price was $7,250,000 representing approximately 5.2% cap rate based on the in-place NOI of $374,100. The original asking price was $7,900,000. Total land area is 59,206 sf, with the total building area on the property measuring approximately 48,571 sf.
PDF Brochure for 1938 152nd Street