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22390 119 AVE #22380 Maple Ridge, BC V2X 6B1
1.03 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type Asset
MLS Listing ID C8079358
Year Built 1961
Annual Tax Amount $121,703
Tax Year 2025
Lot Size 1.030 Acres
Property Description
Premier 1.03-Acre (44,941 SF) strategic commercial land assembly in the heart of Downtown Maple Ridge. Rare "inflation-proof" asset combining massive transit-oriented redevelopment upside with immediate, high-yielding holding income. Includes 22380 & 22390 119 Ave. INVESTMENT HIGHLIGHTS: Immediate Cash Flow: 31,130 SF rentable area anchored by essential services (Daycare, Fitness, Retail). Generates $385,402/yr, securing a rare ~3.9% holding Cap Rate. Rent Upside: Substantial value-add potential to reposition below-market leases to $600,000+ annually. Unlocked TOA Density: Designated under new Provincial Transit-Oriented Area (Tier 1) guidelines. OCP supports min 4.0 FAR and 12 storeys, allowing for ~180,000 SF of mixed-use buildable area (approx. 175-210 residential units).
Location
State BC
Community West Central
Area Maple Ridge
Zoning C3 TOWN CENTRE
Exterior
Utilities Available Cable at Lot Line, Electricity Connected, Fully Serviced, Street Lighting, City Water at Lot Line
Water Access Desc Public,City Water at Lot Line
Building
Sewer Public Sewer
Water Public, City Water at Lot Line
Others
Ownership Freehold