$11 million commercial property for sale near downtown Kelowna
A commercial property in the heart of Kelowna has gone up for sale for $11,760,000. The property is 1873-1875 Spall Road, just south of Harvey Avenue. The property currently has four tenants; Bluetail Sushi, M.C. College, Spall Business Centre, and Modern Paint and Floors. The listing...
Valandos
0
A commercial property in the heart of Kelowna has gone up for sale for $11,760,000.
The property is 1873-1875 Spall Road, just south of Harvey Avenue. The property currently has four tenants; Bluetail Sushi, M.C. College, Spall Business Centre, and Modern Paint and Floors.
The listing agent Kris McLaughlin is a Personal Real Estate Corporation with Re/Max.
McLaughlin is advertising the 1.96-acre property as a development opportunity, according to a press release from Re/Max.
READ MORE: More real estate listings and lower prices in Kamloops, Okanagan
https://infotel.ca/inhome/more-real-estate-listings-and-lower-prices-in-kamloops-okanagan/it104572
“This is an outstanding development site in Central Kelowna,” McLaughlin said in the release. “The property’s strategic location, only a block south of the Harvey Avenue-Highway 97 corridor, makes it a prime opportunity for densification.”
The land is zoned for a variety of uses; commercial, residential, or mixed.
“We see a variety of potential development options for this site, including a new commercial building, rental or affordable housing or even a six-storey hotel,” McLaughlin said.
McLaughlin said the property is a good investment because the current tenants will make it profitable until it's time to develop.
“This is an excellent commercial investment property, as the 24,882 square-foot building’s multiple tenants will provide great holding income until the property is ready for development,” McLaughlin said.
To contact a reporter for this story, email Jesse Tomas
mailto:jtomas@infonews.ca
or call 250-488-3065 or email the editor
mailto:news@infonews.ca
. You can also submit photos, videos or news tips to the newsroom
mailto:tips@infonews.ca
and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here
https://infotel.ca/newsletter
.
