595 Carmi Avenue, Penticton, BC - Corner Redevelopment Site w/ Opportunity for Holding Income

Corner Redevelopment Site w/ Opportunity for Holding Income

595 Carmi Avenue, Penticton, BC, V2A 3G7

Price:
$1,500,000

Property Description

HM Commercial Group is pleased to present a rare commercial redevelopment or investment opportunity at 595 Carmi Avenue in the beautiful City of Penticton.

  • Redevelopment site located at a major intersection at the corner of Government Street and Carmi Avenue offering high visibility.
  • Corner lot in the heart of the medical services area, directly across the street from the Penticton Regional Hospital and kitty-corner from the Penticton Health Centre.
  • 0.207 Acres / 9,017 Square Feet
  • C3 Mixed Use Commercial Zoning
  • FAR up to 2.00 and height up to 18 meters (5-6 stories)
  • City supports a mix of medium-density residential, office and limited retail or personal service commercial uses
  • Opportunity for holding income from existing building with a 1,079 SF main floor commercial unit and a 997 SF second floor 3-bedroom residential suite
  • Building has recently undergone extensive renovations in the commercial suite.  The improvements were done with a pharmacy in mind, however the current set-up will allow for a multitude of business uses
  • Property is available vacant and is highly suitable for an owner-user group in the medical services field, or for either immediate redevelopment or future redevelopment with interim holding income once leased
  • $83/sq ft of saleable area on 18,034 sq ft net saleable area

595 Carmi Avenue, Penticton, BC, Canada

Additional Information

Municipal Address 595 Carmi Avenue, Penticton, BC, V2A 3G7
Legal Description Lot 13 Plan KAP6505 District Lot 250 Land District 54 Except Plan EPP93349
PID 010-090-479
Location Details 595 Carmi Avenue is strategically positioned at the corner of Carmi Avenue and Government Street, directly across from the Penticton Regional Hospital. It is situated just a few blocks from shopping and services on Main Street, and is equal distance from Okanagan Lake and Skaha Lake. Properties in this centrally located area have a wide mix of uses including single family residential, medium-high density residential, institutional, and some commercial. The nature of the area is changing to a “medical district”, which includes the hospital complex across the street to the south and west, the main Interior Health Building “kitty corner” to the south-east, along with other medical uses, such as doctor’s and dentist’s offices. To the north both east and west, is primarily residential. Past the Public Institutional uses to the south is Penticton’s main industrial area extending south both east and west. Government Street is a main North-South corridor in Penticton.
Development Site Area 0.207 acres or 9,017 SF
Building Area 2,076 SF
Land Area 0.207 acres or 9,017 SF
Zoning C3, Mixed Use Commercial
Taxes $7,230.91
Lindsey Termul - Operations Manager at HM Commercial Group

Listing Agent

Lindsey Termul

If you would like more information about this listing or to request a viewing, please fill out the form below. You can also reach us at 250.712.3130 or by email info@hmcommercial.com.