10/22/2025
SOLD: 13541 King George Boulevard, a 5,400-square-foot freestanding retail building situated on a 7,900-square-foot lot in Surrey’s rapidly developing City Centre corridor.
The property sold for $3,400,000, representing approximately $630 per square foot of building area. This sale reflects strong investor confidence in Surrey’s downtown transformation and demonstrates the continued appeal of owner-user and investment opportunities within this evolving market.
Originally constructed in 1949, the building was modernized into a three-unit retail complex featuring upgraded systems, new roofing, HVAC, and a commercial-grade kitchen. The property was leased to the City of Surrey under a short-term tenancy, offering a unique combination of immediate income and long-term redevelopment potential.
Summary
Address: 13541 King George Boulevard, Surrey, BC
Sale Price: $3,400,000
Building Area: 5,400 SF
Lot Size: 7,900 SF
Zoning: CHI – Highway Commercial Industrial
OCP Designation: Downtown (up to 3.5 FSR, supporting mid- to high-rise mixed-use)
Year Built: 1949
Buyer Type: Owner-User / Investor
Seller Type: Private Owner
Transaction Highlights
- Sold to an owner-user/investor seeking strong holding income with future redevelopment upside
- Fully leased to The City of Surrey, providing near-term cash flow security
- Redevelopment potential under Downtown OCP allowing up to 3.5 FSR mixed-use
- Strategic exposure along King George Boulevard, a high-traffic arterial corridor
- Modern improvements including new HVAC systems, roofing, and a full-service kitchen
- Excellent proximity to Gateway SkyTrain Station, Surrey Central, and King George Hub
Property Characteristics
This single-storey retail asset comprises three independent CRUs, one with a fully equipped commercial kitchen and canteen setup. The site’s flexible configuration allows for retail, restaurant, or office use, making it an ideal fit for owner-users seeking a visible, accessible location within Surrey’s downtown core.
The 7,900 SF lot provides surface parking and is located within the City Centre Plan Area, surrounded by major development projects such as Avani Centre, Park George, The Holland, and Georgetown One.
Current market rents support rates up to $40/SF per year, producing strong income fundamentals while preserving long-term land value.
Market Positioning and Strategy
Recognizing the convergence of investment yield and redevelopment potential, Trideep and his team strategically marketed the property to both owner-users and private investors.
By highlighting the property’s strong location, active tenancy, and zoning potential, the marketing campaign generated competitive buyer interest from investors and users seeking exposure to the Surrey City Centre growth corridor.
The team’s understanding of market demand and pricing dynamics ultimately secured a qualified buyer aligned with both the income and future value potential of the site.
Neighborhood Overview
Surrey City Centre is Metro Vancouver’s fastest-growing urban node, designated as the region’s second downtown. The area continues to experience rapid transformation driven by infrastructure, transit expansion, and a surge of mixed-use residential and commercial developments.
Nearby Projects Include:
Avani Centre
Park George
King George Hub
The Holland
Georgetown One
University District
Central Surrey City Centre
With proximity to SkyTrain, Surrey Memorial Hospital, SFU Surrey Campus, and Central City Shopping Centre, this property benefits from constant visibility and long-term appreciation potential.
Conclusion
The sale of 13541 King George Boulevard demonstrates the sustained demand for well-positioned owner-user and investment properties in Surrey’s City Centre.
The transaction underscores our ability to identify emerging value opportunities and connect motivated buyers with strategically located assets offering both income and redevelopment upside.
Quick FAQ
Q1: What type of buyer purchased 13541 King George Boulevard?
The property was acquired by an owner-user/investor seeking a combination of income stability and long-term redevelopment potential in the Surrey City Centre corridor.
Q2: What made this property attractive to buyers?
The site offered a rare mix of cash flow from an active lease with the City of Surrey and significant redevelopment potential under the OCP’s 3.5 FSR allowance, making it ideal for both investors and future owner-occupiers.
Q3: How does the location contribute to the property’s value?
Located along King George Boulevard, the property benefits from excellent exposure, transit access, and adjacency to major developments, ensuring long-term land value growth.
Q4: What were the key value drivers in this sale?
Modern building upgrades, flexible zoning, short-term tenancy providing holding income, and the opportunity for mixed-use redevelopment were the major factors that drove buyer interest.
Q5: How does this sale reflect broader market trends in Surrey?
As Surrey evolves into a major metropolitan hub, well-located retail and mixed-use properties continue to attract investors and owner-users seeking to capitalize on the City Centre’s redevelopment momentum.
