Retail for Sale — New Westminster, BC
$4,500,000
319 GOVERNORS COURT, New Westminster, BC V3L5S5
Property details
Structured details
- Zoning
- C-2
- Annual property tax
- $66,762.03 (2025)
- Lot dimensions
- 47876
Listing Information
- MLS®
- C8076372
- Listed
- February 20, 2026
- Time on market
- 207 days
- Data last synced
- September 15, 2026
- Source
- CREA DDF®
Description
Foreclosure alert! Own a true piece of New Westminster history! The iconic "Landmark Building, " formerly part of the historic BC Penitentiary, offers a rare opportunity to secure a one-of-a-kind trophy property. Situated on a 47,876 SF (1.1-acre) C-2 zoned lot, this ±11,522 SF heritage building presents exciting future redevelopment potential (verify with City), including possible mixed-use with retail or daycare at street level and office units above. Currently generating solid holding income with upper-level tenants in place and a fully licensed restaurant below featuring 134 indoor seats plus a 160-seat patio. Extensive upgrades (mechanical, electrical, and full sprinkler systems) were completed in 1989. Over 40 on-site parking stalls with potential for expansion. A unique investment opportunity blending historic character, stable income, and long-term upside. Private viewings by appointment only. (id:63159)
Financing calculator
Estimate your monthly payment on the $4,500,000 asking price.
Financing details
- Monthly debt service
- $43,678
- Cash required at close
- $925,000
- DSCR
- —
- Cash-on-cash return (yr 1)
- —
Pure arithmetic, no market assumptions — informational only, not financial advice. Enter your own stated SDE/EBITDA above to see DSCR and cash-on-cash return.
Location
Local market size (New Westminster)
- Population
- 78,916(+11.2% since 2016)
- Population density
- 5,052.2/km²
- Median household income
- $82,000
Source: Statistics Canada, 2021 Census of Population.
Education
- Bachelor's degree or higher
- 35.1%
- Postsecondary below bachelor's
- 28.2%
- High school diploma
- 26.4%
- No certificate/diploma
- 10.4%
Population aged 15 and over.
Commute
- Car, truck or van
- 68.3%
- Public transit
- 22.5%
- Walked
- 6.3%
- Bicycle
- 0.9%
- Other
- 2.0%
Commute duration
- Under 15 min
- 16.7%
- 15–29 min
- 33.3%
- 30–44 min
- 28.6%
- 45–59 min
- 12.8%
- 60+ min
- 8.5%
Employed labour force with a usual workplace.
Mother Tongue
Top 10 mother tongues reported (single responses).
Nearby Places
Restaurants (4)
- L'Onore Pizza · 28 East Royal Avenue508m
- Victoria Sushi · 15 East Royal Avenue623m
- Steve's Poké Bar · 237 Nelson's Crescent713m
- Noodlebox · 289 Nelson's Court744m
Cafes (4)
- Mira Caffe · 28 East Royal Avenue488m
- Greens & Beans Deli · 143 East Columbia Street502m
- Take Five Cafe · 202 East Columbia Street637m
- Corner Cafe781m
Grocery (1)
- Save-On-Foods · 270 East Columbia Street670m
Parks (5+)
- Unnamed219m
- Unnamed324m
- Glenbrook Ravine Park516m
- Victoria Hill Park530m
- Woodlands Memorial Garden591m
Gyms (1)
- Snap Fitness778m
Pharmacies (1)
- Shoppers Drug Mart738m
Banks & ATMs (1)
- Bitcoin ATM Localcoin · 15 East Royal Avenue622m
Healthcare (3)
- Spectrum Dermatology659m
- Mountainview Health & Wellness737m
- MacDonald Plastic Surgery · 250 Keary Street795m
Nearby places data: © OpenStreetMap contributors.
Nearby transit
| Northbound Richmond St @ Miner St | 132m | |
| Southbound Richmond St @ Miner St | 143m | |
| Southbound E Columbia St @ Richmond St | 233m | |
| Eastbound Cumberland St @ Miner St | 250m | |
| Westbound Cumberland St @ Sapper St | 254m | |
| Northbound Jamieson Court @ Richmond St | 258m |
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All in New Westminster →Frequently asked questions
What is the asking price for this business?
The asking price is $4,500,000.
Where is this business located?
This listing is located in New Westminster, British Columbia.
How current is this listing?
This listing is sourced from the CREA Data Distribution Facility (DDF®) and refreshed nightly. It was last confirmed active on September 15, 2026.