Three Penticton motel properties sold for $5M

The properties are zoned for high-density residential and commercial development

By
for Western Investor
April 16, 2018





motel penticton
 
Three motel properties in Penticton have sold for $5 million, Green Real Estate Group tells Western Investor
 
The three hotels are spread out across 3.11 acres on Skaha Lake Road, including a total of 36 units. The site is located opposite a Walmart and has a net operating income of $250,000 per year. The properties are zoned for fixed high-density residential and commercial development, approved for 282 units. 
 
The properties are located at 2730 2784 and 2824 Skaha Lake Rd., Penticton. 
 

Breakdown: 

 
Price: $5,000,000
No. of Units: 36  
Price/Unit: $138,888
Lot Size: 3.11 acres 
Property Type: Hotel 
Zoning: CD3
Date of Sale: 03/29/2018 
City: Penticton    
Province: B.C.  
Name of Brokerage: Green Real Estate Group 
 

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