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Listed by Kane Ryan Pemberton Holmes Ltd.
$ 3,950,000
Est. payment | /mo
7,648 SqFt
$ 3,950,000
Est. payment | /mo
7,648 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 7,648 sqft
Price per Sqft $516
MLS Listing ID 1049788
HOA Y/N No
Annual Tax Amount $49,038
Tax Year 2025
Lot Size 0.400 Acres
Acres 0.4
Property Sub-Type Retail
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.
Location
Province BC
County Capital Regional District
Community Sw Royal Oak
Area Saanich West
Interior
Fireplace No
Exterior
Parking Features On Site
Garage Spaces 31.0
View Y/N No
Total Parking Spaces 31
Garage No
Others
Ownership Freehold
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