106 1st St W 21,755 SF 100% Leased Office Building North Vancouver, BC V7M 1A9 $9,475,000 CAD ($435.53 CAD/SF) 6.13% Cap Rate

Positioned in the heart of North Vancouver’s dynamic Lower Lonsdale district, 106 West 1st Street presents a rare opportunity to acquire a character-rich, four-storey mixed-use commercial asset. Originally constructed in 1910 and extensively upgraded since 2016 with nearly $1.2 million in capital improvements, this 24,619 SF building blends heritage charm with modern infrastructure. The property features 18 demised units, including ground-floor retail and three levels of office space, with unit sizes ranging from 249 to 3,590 SF—ideal for a diverse tenant mix. The building’s robust construction includes cast concrete, concrete block, and brick-and-beam elements, complemented by structural reinforcements such as a steel-reinforced stairwell. Tenants benefit from updated electrical and plumbing systems, a new roof, and a secure keycard-access lobby with exposed brick and floor-to-ceiling windows. Retail units are individually climate-controlled via HVAC, while office suites feature electric baseboard heating and a shared 400-amp electrical service. Located steps from Lonsdale Quay Market and The Shipyards District, the property enjoys exceptional walkability, transit access via Seabus and bus routes, and proximity to waterfront amenities. South-facing suites offer sweeping views of Burrard Inlet and Downtown Vancouver, enhancing appeal for both tenants and owner-users. Held in a Bare Trust, the asset may offer Property Transfer Tax savings. With a stabilized NOI of $577,785 and a cap rate of 5.84%, this investment is priced attractively at $402 per SF—well below replacement co