For Sale · Specialty

3250 97 Highway, West Kelowna

3250 97 Highway, West Kelowna, BC V4T1W4

$5M total

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Asset Class

Specialty

Size

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Building class

A

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

82%

Lot Size

161 ac

About this property

161 Acres I Strategic Development Opportunity I West Kelowna Exceptional opportunity to acquire approximately 161 contiguous acres in West Kelowna, offering a substantial landholding in one of British Colwnbia's most desirable and rapidly evolving regions. The property enjoys impressive views of Okanagan Lake and the surrounding valley, adding another dimension to its long-term development potential. Strategically located along the Highway 97 corridor, the property offers convenient proximity to West Kelowna, Peachland and Kelowna, with access to the amenities, services and economic activity of the Central Okanagan. The property has been the subject of ongoing planning discussions related to future development and access. A proposal was submitted to the City of West Kelowna in February 2024 for consideration within the OCP 2040 and Connect West Kelowna Transportation Master Plan processes. Potential future road access remains under consideration by the City. With approximately 161 acres under one ownership group, this rare offering provides significant flexibility for a purchaser to investigate multiple long-term development opportunities, including potential employment, light industrial/business park or other uses, subject to access, servicing, rezoning and municipal approvals. An exceptional opportunity for developers, investors and land-bank purchasers seeking a strategic holding with outstanding Okanagan Lake views in the heart of the Central Okanagan. (id:66811)

Financial sandbox

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Estimate
Purchase price$5.00M
Down payment30% · $1.50M
Interest rate6.25%
Amortization25 years
Occupancy82%
Expense growth2.5%

Monthly debt service

$23K

Projected NOI

$306K

Annual cash flow

$29K

Cash-on-cash

1.93%

DSCR

1.10

Going-in cap

6.12%

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

106,194

Households

40,792

Median income

$92,000

Median age

46

Daytime population

109,669

5-yr growth

8.3%

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

Secure deal room

Confidential diligence documents for 3250 97 Highway, West Kelowna.

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.