Steve Fame and Dan Chatfield are pleased to present the opportunity to acquire 106 West 1st Street, North Vancouver, a four-storey mixed-use commercial building, totaling 21,686 SF of rentable area, prominently located in North Vancouver’s Lower Lonsdale commercial district.

• $1.2 Million in capital improvements recently invested 
• Long-term stable tenancies with further upside potential 
• Held in a Bare Trust allowing for potential Property Transfer Tax savings 
• Priced at only $402 per SF and a 5.84% capitalization rate 
• Freight elevator, high ceilings, and attractive open layouts 

Originally constructed in 1910, 106 West 1st Street is a four-storey, mixed-use commercial building located in the heart of North Vancouver’s vibrant Lower Lonsdale neighbourhood. Built with a combination of cast concrete, concrete block, and brick-and-beam construction, the building offers 21,686 square feet of rentable area across 18 individual units, including ground-floor retail and three levels of office space above. Unit sizes range from 249 to 2,109 square feet, appealing to a wide range of tenant profiles. The flexible LL2 (Lower Lonsdale Zone 2) zoning supports a variety of commercial uses, resulting in strong occupancy levels and steady tenant demand.

Since 2016, the building has undergone over $1.2 million in capital improvements. These upgrades include a new two-ply torched-on roof, major electrical and plumbing updates, and more than $300,000 in structural reinforcement, including the installation of a steel-reinforced front stairwell. With these improvements, the building now complies with current City of North Vancouver building codes. The three ground-floor CRUs are currently occupied by a vintage clothing boutique accessed from the rear alley, an organic grocery store, and a plant-based quick-service restaurant fronting onto West 1st Street. The upper office floors are accessed via a secure, keycard-enabled entrance that opens into a renovated lobby featuring dark tile flooring, exposed brick walls, and floor-to-ceiling windows.

The second, third, and fourth floors showcase a mix of maple hardwood and durable vinyl flooring, and all units have been renovated within the past decade. The second floor is divided into four units, two of which are accessible from the east-west alley. The third floor offers 15-foot ceilings and eight unique office spaces, while the fourth-floor units are filled with natural light thanks to skylights and large windows. South-facing suites enjoy expansive views of the Burrard Inlet and Downtown Vancouver skyline. Notably, the 2,101-square-foot vacancy on the fourth floor offers an ideal opportunity for an owner-occupier looking to establish a North Shore presence.

Each retail unit is heated and cooled via its own HVAC system, while the upper-floor office units rely on electric baseboard heating. The building’s 400-amp main electrical service is located in Unit 303, with hydro costs allocated to tenants on a per-square-foot basis. At the northeast corner of the property, an original freight elevator remains fully functional and is maintained regularly. With its unique character, upgraded infrastructure, and prime location, 106 West 1st Street presents a compelling investment or owner-user opportunity in one of North Vancouver’s most sought-after commercial districts.