mixed-use building sold on key downtown corner
- 3 retail + 3 residential
- sold for full asking price
- income-driven sale
listing
description
Sold for full asking price, 1205 3rd Avenue is a fully renovated mixed-use building located on one of Prince George’s most active corners — the intersection of 3rd Avenue and Dominion Street in the downtown core. With three residential units above and three well-leased retail storefronts below, this 9,765 SF building offers true mixed-use performance in a growing regional centre.
The building underwent a full renovation in 2016/17, including electrical, mechanical, roof, windows, and interiors — resulting in low operating costs and strong yield. My client was a Vancouver family, and as listing representative, I worked closely with all parties to ensure a smooth and professional process from start to finish. Family-led sales often require added care, clarity, and consensus — and that was a key part of this successful outcome.
As a broker with direct experience in multiple mixed-use transactions, I understand how to position these unique assets — and more importantly, how to match them with the right investor profile. That market familiarity, combined with deep product knowledge, allowed us to move with confidence and deliver full value.
investment
thesis
A fully renovated, well-leased mixed-use asset on a main commercial corridor in a growing interior market — offering stable income and future upside.
policy
context
Zoned C-1 (Downtown Commercial), the property supports a wide range of commercial and residential uses and is fully aligned with the City of Prince George’s downtown intensification strategy. Its location on a high-visibility corner enhances both tenant demand and long-term investment potential.
buyer
appeal
The buyer recognized the building’s rare combination of location, condition, and income stability. With all major systems recently updated and a strong street presence, the asset stood out among comparable listings. As a CCIM Designee, my background in underwriting mixed-use transactions gave the buyer added confidence — and my ability to navigate the seller family’s needs ensured the deal moved forward with professionalism and care on all sides.
Downtown mixed-use asset
Fully renovated building
Family-led sale process
specifications
Sold Price: $1,300,000
Lot Size: 3,300 SF
Zoning: C-1 (Downtown Commercial)
Address: 1205 3rd Ave, Prince George, BC V2L 3E6
Year Built: 1948
Year Renovated: 2016/17
Residential Units: 3 (2 x 2-Bedroom, 1 x Studio)
Commercial Units: 3 Retail Units (5,430 SF total)
Rentable Area: 7,575 SF
Gross Building Area: 9,765 SF
Cap Rate: 6.13%
Price Per Rentable SF: $171
Price Per Gross SF: $133
Parking: Street Parking
PID: 013-023-284
Legal Description: Lot 10 Block 133 Plan PGP1268 District Lot 343 Land District 05
Property Taxes: $12,331.37 (2021)
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