For Sale · Specialty

5440-5482 Silver Star Road, Vernon

5440-5482 Silver Star Road, Vernon, BC V1B3K4

$4.0M total

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Asset Class

Specialty

Size

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Building class

A

Zoning

US — Urban Services

$ / SF

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Occupancy

99%

Lot Size

11.54 ac

About this property

Fantastic 11.54-acres of Okanagan investment and development opportunity! Two adjoining properties at the eastern boundary of Vernon along Silver Star Road, en route to Silver Star Mountain Resort. The 6.58-acre parcel is within City limits and zoned MUA (Multi-Unit Acreage), allowing a range of residential development including. City services at the property line. Preliminary concepts range from six 1-acre bare land strata lots to as many as 48 townhomes, subject to approvals. Varied topography, potential lakeviews and scenic BX Creek frontage. The adjoining 4.96-acre property is zoned CR (Country Residential) and within the ALR, featuring a stately 1910 Craftsman estate with over 5,000 sq. ft of possibilities, 4 bedrooms and 2.5 bathrooms. Additional improvements include a private courtyard with pond and waterscape, 26' x 36' detached garage with 660 sq. ft. studio suite above, heritage barn with separate hydro meter and additional outbuildings. A unique combination of development potential, established improvements, privacy and natural beauty. Additional information in supplements. Contact Don or Jacob for details. (id:66811)

Financial sandbox

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Estimate
Purchase price$3.97M
Down payment30% · $1.19M
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$18K

Projected NOI

$319K

Annual cash flow

$99K

Cash-on-cash

8.34%

DSCR

1.45

Going-in cap

8.04%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

102,122

Households

35,975

Median income

$93,500

Median age

45.8

Daytime population

114,724

5-yr growth

7.3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 5440-5482 Silver Star Road, Vernon.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.