Exceptional investment and redevelopment opportunity in the heart of Upper Gibsons. Kern’s Plaza is a fully leased shopping centre with approx. 21,117 sq. ft. of retail/office space, anchored by established tenants including the Salvation Army, generating a stable NOI of ~$315,000 (3.95% cap rate at $7.98M).
Situated on a 45,242 sq. ft. corner lot, the property is zoned C-1 Upper Gibsons, permitting mixed-use redevelopment with ground-floor commercial and residential above. The zoning allows up to 80% lot coverage (~36,000 sq. ft. footprint) and 12 m height (3–4 storeys as-of-right), with recent approvals in the area supporting 5–6 storeys of residential. Massing concepts indicate the potential for ~125–230 units depending on suite mix and efficiency, alongside up to 26,910 sq. ft. of commercial space.
This is one of the largest and most visible development sites in Gibsons, strategically located within walking distance to amenities, transit, and just minutes to the Langdale ferry terminal. Phase 1 Environmental complete. Hold for reliable income today while unlocking significant long-term redevelopment potential. Call today for the full information package.