Three Penticton motel properties sold for $5M
The properties are zoned for high-density residential and commercial development
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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.
No. of Units: 36
Lot Size: 3.11 acres
Property Type: Hotel
Date of Sale: 03/29/2018
Name of Brokerage: Green Real Estate Group
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