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2730 SKAHA LAKE Road
FVREB Out of Town No City Value V2A 6G1

$5,495,000
Business with Property, Multi-Family Commercial

Main Photo: 2730 SKAHA LAKE Road in No City Value: FVREB Out of Town Business with Property for sale : MLS®# C8017400
Prop. Type:
Business with Property, Multi-Family Commercial
MLS® Num:
C8017400
Status:
Active
Bus Major:
Accommodation Travel & Tourism
Bus Minor:
Hotel/Motel
Build. Type:
Low Rise (2-4 stories)
This high profile site comprised of 3 older motels on 3 separate legal lots totalling 3.11 acres. Located directly opposite the Walmart Super Centre Mall, on Skaha Lake Road, Penticton. The 3 motels have a total of 57 units which are all rented on a monthly basis with onsite property manager. The properties have received preliminary zoning approval to accommodate 282 residential units and 29,000 sq/ft of commercial in 3 high rise towers. Alternate uses would be mixed commercial to accommodate larger retail outlets, automotive dealerships, restaurants, or office use. The 3 motels generate over $478,000 annually, with a net income exceeding $235,000 and are professionally managed by a full time onsite caretaker. Please call for information package and to set up a private view.
Sale Type:
Asset
Property Type:
Business with Property, Multi-Family Commercial
Major Bus Type:
Accommodation Travel & Tourism
Minor Bus Type:
Hotel/Motel
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories), Residential Mix
Land Use/Zoning:
CD3
Taxes:
$21,740 / 2017
HVAC:
Mixed
Env Assmt Phase:
Phase/Stage 1
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
$235,000
Tot Gross Sales:
Condo Fee:
Lse Op Costs SF:
Listed Date:
Previous Price:
Original Price:
  • Photo 1: 2730 SKAHA LAKE Road in No City Value: FVREB Out of Town Business with Property for sale : MLS®# C8017400
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RE/MAX PENTICTON REALTY (SOREB)
Listing information last updated on March 29, 2018 at 06:55 PM (UTC)
TREVOR BRUCKI | Residential Specialist
RON WALL | Commercial Specialist