Area: British Columbia
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Turnkey Development Opportunity in a Thriving Location Located at one of Penticton's Highest Traffic Intersections, this 9,252 SQFT lot is zoned C5 – Urban Centre Commercial, offering a huge opportunity for development. With a FAR of 6.0, the current zoning allows for up to 55,512 buildable SQFT. A development permit is already approved for a six-story mixed-use building with 30 residential units and two ground-level retail spaces. The current DP plan includes 20 one-bedroom + den and 10 two-bedroom residential units as well as 2 commercial retail units at street level. Located on the city's main lake-to-lake bike lane, this property is surrounded by popular restaurants, breweries, and shops. Plus, it's just minutes to Okanagan Lake, making it incredibly desirable. With a development permit in place and a great location, this is a fantastic investment for developers and investors looking for a ready-to-go project in a high-demand area. Reach out to The Aitkens Group - Real Broker, for more information. *All boundaries shown are to highlight property location only, all borders are approximate and to be verified by the buyer. (id:44056)

Property Details

Full Address:
686 Martin Street, Penticton, British Columbia
Price:
$ 2,445,000
MLS Number:
10338627
List Date:
March 20th, 2025
Lot Size:
0.21 ac
Taxes:
$ 9,498

Interior Features

Building Features

Sewer:
Municipal sewage system
Water:
Municipal water, Government Managed
Zoning:
Unknown
Ownership Type:
Freehold
Taxes:
$ 9,498

Floors

Land

Lot Size:
0.21 ac
Road Type:
Paved road

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Ken Aitkens Real Broker B.C. Ltd
 250-644-9890
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Listing Agent(s)

Listing: Ken Aitkens
Real Broker B.C. Ltd
Co-Listing: Erin Aitkens
Real Broker B.C. Ltd

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