Acreage with institutional building in Oliver, B.C., sold for $1.275M

13.6-acre property is AI zoned, allowing for a wide variety of agricultural and institutional uses

By
for Western Investor
August 7, 2019





Done Deal Oliver acreage institutional building

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


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