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$ 3,950,000
Est. payment /mo
Active
4500 West Saanich Rd Saanich, BC V8Z5L3
0.4 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Royal Oak
MLS® Listing ID 1049788
Lot Size 0.400 Acres
Acres 17425.0
Property Sub-Type Freehold
Property Description
This 17,425 sq. ft. commercial property presents a rare opportunity to acquire a strategic income-producing site in the rapidly evolving Royal Oak growth corridor. Now offered at a reduced price, the property provides dependable holding income alongside significant long-term redevelopment potential. The fully leased building contains 7 commercial units totalling more than 7,600 sq. ft. of leasable area, supported by a long history of stable tenancy. The site benefits from dual road access, with over 100 ft of frontage on W.Saanich Road and approximately 60 ft on Viewmont Avenue, immediately adjacent to Royal Oak Shopping Centre. Currently zoned C-3, preliminary discussions with the municipality suggest the potential for density exceeding 3.5 FSR. Nearby municipally owned lands have been rezoned to permit buildings of up to 12 storeys, with additional development activity progressing throughout the area. A strong income-producing asset today with meaningful future redevelopment upside. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 31
Garage No
Private Pool No
Others
Ownership Freehold
Listed by Pemberton Holmes Ltd.