32525 Simon Ave - Office FOR SALE


Abbotsford, BC V2T 6T6
$10,500,000 CAD
604-675-5236
32525 Simon Ave, Abbotsford, BC for Sale
$10,500,000 CAD
Office - FOR SALE
1/3
null | 4.28% Cap Rate

32525 Simon Ave
Abbotsford, BC V2T 6T6


HIGHLIGHTS

  • 100% Leased, Fully Occupied — four tenants with staggered near-term expiries providing a defined path to owner occupancy
  • Dual Government Covenant — the Government of Canada (ESDC) and the Province of British Columbia collectively occupy 80% of the building
  • Value-Add at Each Expiry — all in-place rents across the netlease tenancies are below current market rates
  • Significant Redevelopment Upside — designated City Centre Residential under Abbotsford's newly adopted Abbotsforward 2050 OCP (December 2025)
  • City Centre Transformation Underway — Auburn, a 134-unit mixed-use six-storey development by Diverse Properties
  • Rare Freestanding Office in Abbotsford's City Centre — 21,752 SF purpose-built office building on a 24,984 SF lot

OVERVIEW

Marcus & Millichap is pleased to present for sale 32525 Simon Avenue, Abbotsford, BC (the "Subject Property"). The Subject Property represents a rare opportunity to acquire a fully leased, government-anchored office building in the heart of Abbotsford's rapidly transforming City Centre. The Property offers the ability for prospective purchasers to secure premium office space for their own occupancy, collect stable government-backed income, and benefit from significant long-term redevelopment upside under the highest density land use designation in all of Abbotsford. The building is 100% leased to four tenants, anchored by the Government of Canada and the Province of British Columbia, collectively occupying over 80% of the building. Staggered lease expiries over the next two to three years present a user with a clearly defined path to occupying meaningful square footage while enjoying secured holding income throughout. For the investor, these same expiries represent an opportunity to relet at materially higher market rents in a supply-constrained office market, or to capitalize on the property's City Centre Residential land use designation and develop the site to its full density potential. The Subject Property sits directly across the street from Auburn by Diverse Properties, a 134-unit mixed-use six-storey development currently under construction which demonstrates the momentum of Abbotsford's City Centre and the caliber of the immediate neighbourhood.

FOR SALE DETAILS

PRICE

$10,500,000 CAD

PRICE/SF

$483 CAD /SF

CAP RATE

4.28%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Government-Tenanted Office Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,986 SF

ZONING

C-5

APN/PARCEL ID

013-419-170

ASK ABOUT THIS PROPERTY

Joey YooMarcus & MillichapMore Info
604-675-5236

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Joey YooMarcus & MillichapMore Info
604-675-5236

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