A downtown Kelowna corner development lot has sold for $2.9 million, NAI Commercial Okanagan reports.
The site is designated for highrise, mixed-used development, with central business commercial zoning. The site allows for a development up to 26 storeys with a maximum floor area ratio of 9.00. Tbe land also provides a stable holding income with its current improved retail building.
The property is located at 1620 Water St., Kelowna.
Breakdown:
Price: $2,900,000
Lot Size: 19,200 SF
Property Type: Land
Zoning: C7
2017 B.C. Assessment Value: $2,506,000
Date of Sale: 02/23/2018
City: Kelowna
Province: B.C.
Name of Brokerage: NAI Commercial Okanagan
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