VANCOUVER · BURNABY · RICHMOND
The asking rent is only the starting point. Understand the full monthly cost, what your budget buys, and what it takes to open.
Download the guide PDF · 3 pages · 56 KBA budget below $3,000 a month can work, but finding a spacious, prominent storefront that is ready to open usually means making compromises on size, location, or condition.
The cost of leasing the space.
Property taxes, building insurance, and common area operating costs (CAM), as set out in the lease.
Budget for more than this combined rent. The supplied guide excludes 5% GST, separately metered utilities, tenant insurance, and other operating costs. Gross, modified gross, and triple net (NNN) leases include different costs: check the actual agreement. [4] [6]
As the combined annual rate rises, the floor area your budget supports gets smaller.
| Combined annual rate | Area at $3,000/month | Monthly rent for 1,000 sq. ft. |
|---|---|---|
| $60 / sq. ft. | 600 sq. ft. | $5,000 |
| $80 / sq. ft. | 450 sq. ft. | $6,667 |
| $100 / sq. ft. | 360 sq. ft. | $8,333 |
Rounded to the nearest dollar. These are calculations, not citywide averages or a guarantee of available space. GST and separately billed costs are excluded.
A unit can fit your monthly rent budget and still need substantial upfront spending. A shell unit or a space previously used for a different business may need plumbing, electrical upgrades, ventilation, accessible washrooms, and municipal permits.
Existing improvements reduce opening costs only when they suit your proposed use. Confirm the permitted use, condition, required approvals, and fit-out budget before relying on a low rent.
A requirement for 1,000+ sq. ft., prime street frontage, and suitable existing improvements will generally call for a higher budget.
The following figures are reproduced from the supplied guide's research. They describe particular corridors and retail formats, rather than citywide averages. All rates are annual CAD per sq. ft.
| Location / format | Base / net rent | Additional rent | Source |
|---|---|---|---|
| Vancouver · Davie Village streetfront Burrard to Jervis | $50–$80 | $18–$25 | Colliers H1 2026 [1] |
| Vancouver · grocery-anchored shops | Up to $80 | $15–$25 | Colliers H1 2026 [1] |
| Burnaby · grocery-anchored shops | Up to $80 | $15–$25 | Colliers H1 2026 [1] |
| Richmond · grocery-anchored shops | Up to $80 | $12–$20 | Colliers H1 2026 [1] |
| Metro Vancouver · suburban mixed-use retail | $40–$70 | Not reported | CBRE H1 2026 [2] |
Colliers' figures concern typical 1,000 sq. ft. shop spaces. CBRE's survey concerns prime Class A properties and 10-year leases. The samples are not directly interchangeable. Rates and availability change.
CONDITION MATTERS
1280–4000 No. 3 Road · 400 sq. ft.
The guide describes an interior mall unit in shell condition. Bare floors and unfinished walls illustrate why a small footprint does not necessarily mean a low opening cost. The rent fields conflict, so the guide does not rely on a rent figure. [8]
BASE IS ONLY PART OF IT
Streetfront unit · 419 sq. ft.
The guide records an asking base rent of $2,500/month, triple net. That leaves only $500 in a $3,000 rent budget for additional rent. Since those charges are undisclosed, the total cannot be confirmed from the headline price. [9]
Examples recorded in the source guide as of 16 October 2026; these are not current availability claims. Confirm lease terms, condition, and permitted use independently.
Rentable sq. ft. × (annual base rate + annual additional rate) ÷ 12
Monthly rent budget × 12 ÷ combined annual rate per sq. ft.
Both formulas exclude GST, separately metered hydro/gas, tenant liability and property insurance, and tenant improvement amortization. If $3,000 is your total occupancy budget, deduct these costs before calculating affordable rent or area.
Adapted from Understanding Retail Rent in Vancouver, Burnaby & Richmond, dated 16 October 2026. Reference numbers below match the PDF.
Published 10 August 2026. Corridor and retail-format research.
Published 10 September 2026. Estimated net asking rates.
Base rent, CAM, and commercial lease terminology.
Tax rules for commercial real property leases.
Business use and municipal approval information.
Shell-condition example cited in the guide.
Triple net asking-rent example cited in the guide.
TAKE THE RESEARCH WITH YOU
Three pages of calculations, market context, and source links.