NAI Commercial Okanagan Ltd. reported that a large acreage with institutional building in Oliver, B.C., in the South Okanagan, has been sold for $1.275 million. The unique property, which is ringed by a water feature, was most recently used as a church retreat. There is a single-family dwelling and large institutional-style building featuring large communal areas, 17 individual sleeping rooms, common washrooms, large commercial kitchen, dining area and offices. Property is in the ALR and was previously farmed with ground crops and fruit trees, and AI (Agriculture and Institutional) zoning allows for a variety of institutional uses including community care, educational facility, multi-dwelling for special needs and affordable housing, charitable, fraternal or philanthropic institutions.
Breakdown:
List price: $1,299,000
Sale price: $1,275,000
Property type: Land with detached house and institutional building
Size: 12,000 square feet (buildings)
Lot size: 592,416 square feet/13.6 acres
Zoning: AI (Agriculture and Institutional)
Address: 7600 Island Road
City: Oliver, B.C.
Name of brokerage: NAI Commercial Okanagan Ltd.
Name of agent: Tim Down
