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Richmond industrial site sold for $1.9M above assessment

The 1.4-acre site on Horseshoe Way, zoned for office and industrial, fetched $9.18 million
DD Richmond industrial Horseshoe Way

A 1.4-acre industrial site on Horseshoe Way, Richmond, has sold for $9.1 million, nearly $2 million above its BC Assessment value.

Breakdown:

Property type: Industrial

Location: 12148 Horseshoe Way, Richmond, BC

Property size: 26,000 square feet

Land size: 1.433 acres

Zoning: IB1 (Industrial and office)

BC Assessment value: $7,272,000

Sale price: $9,188,000

Date of sale: Jan 31, 2020

Brokerage name: NAI Commercial, Vancouver

Broker: Rick LuiĀ