1511 Admirals Rd - Retail FOR SALE


Victoria, BC V9A 2P8
$8,980,000 CAD
778-401-0861
1511 Admirals Rd, Victoria, BC for Sale
$8,980,000 CAD
Retail - FOR SALE
1/3
null | 5.21% Cap Rate

1511 Admirals Rd
Victoria, BC V9A 2P8


HIGHLIGHTS

  • 100% occupied by Rexall, a national pharmacy brand backed by a strong corporate covenant.
  • Rexall is operating on a triple-net (NNN) lease, providing minimal landlord responsibilities and a secure, predictable cash flow.
  • Prominent corner site along Admirals Road (11,500 VPD) with strong commuter exposure and excellent accessibility to Victoria's urban core.
  • Situated within a dense and proven retail node, anchored by Canadian Tire, Admirals Walk Shopping Centre (Thrifty Foods), and Eagle Creek Village.
  • The Subject Property sits on approximately one acre adjacent to recent multifamily development, providing a clear runway for future densification.
  • View Royal's Official Community Plan (View Royal 2050) designates the Admirals Road corridor for increased density and mixed-use intensification.

OVERVIEW

Marcus & Millichap's Western Canada NNN Group presents 1511 Admirals Road, View Royal, BC (the "Subject Property"), an 11,854 SF freestanding Rexall pharmacy on a corner site at Admirals Road and Glentana Road, surrounded by national tenants including Canadian Tire and Thrifty Foods (Sobeys). The property is 100% leased to Rexall Pharmacies (BC) ULC on a landlord-favourable NNN lease expiring October 31, 2031, with two successive five-year renewal options, approximately 5.5 years of remaining term, and backed by a tenant with a 122-year operating history and ~400 locations nationally.

FOR SALE DETAILS

PRICE

$8,980,000 CAD

PRICE/SF

$765 CAD /SF

CAP RATE

5.21%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,689 SF

ZONING

CD-1

APN/PARCEL ID

028-418-484

ASK ABOUT THIS PROPERTY

Curtis LeonhardtMarcus & MillichapMore Info
778-401-0861

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Curtis LeonhardtMarcus & MillichapMore Info
778-401-0861

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.