About this property
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:67468)
Property details
- Property type
- Commercial
- Structure
- Retail
- Ownership
- Freehold
- Building area
- 7,648 sq ft
- Parking spaces
- 31
- Lot size
- 17,425 sq ft
- Zoning
- Unknown
- Annual property taxes
- $49,038
