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:4069)
Address
686 Martin Street
List Price
$2,445,000
Property Type
Vacant Land
Type of Dwelling
Other
Area
British Columbia
Sub-Area
Penticton
Lot Size
0.21 Sq. Ft.
MLS® Number
10338627
Listing Brokerage
Real Broker B.C. Ltd
Postal Code
V2A5L6
