Premium Development Opportunity
- Status: For Sale
- Property type: Commercial
Excellent location for potential commercial or residential with great visibility of this elevated property.
Almost 20 acres with approx. 747 feet of frontage “overlooking” the Kingsway, a high traffic area above local restaurants, car lots and commercial buildings.
Adjacent to new shopping development and Microtel Inn & Suites, and backing onto Junction Creek Conservation Authority land and Adanac Ski Hill.
Property has been developed and landscaped in almost all areas, providing several tiers of levelled and filled plateaus, solid, wide gravel roads throughout, panoramic vistas from all areas, really a beautiful location for future developments.
2 entrances to the property, on the west side, a gravel road at the Kingsway, on the east side, Silver Hills Drive, a year round municipal road recently built to service Microtel Inn and a new commercial development, and terminating at our lot line. Potential to develop the gravel road from the Kingsway (we own the road, other parcels have rights of way) to transfer to the city, owners of this and other affected parcels have begun discussions.
Property is currently used and derives income from multi-family, vehicle sales, but primary value is in the land for future development. Current residences and mixed use buildings include: Main residence built in 1963: Split-level 4 bedrooms, 2 full baths; separate rental unit: 2 bedrooms, 1 bath; mobile home with garage is a year round residence occupied by family, 2 bedrooms, 2 baths; duplex: Upper unit is 2 bedrooms, 1 bath, main level unit is re-purposed to office and storage, but can be returned to a residential unit; additional mobile home used for office and storage; older garage with 3 bays; large quonset building used for storage.
Property is serviced with hydro, municipal sewer and water, telephone. Natural gas has been brought up the hill, installed in adjacent property. Garbage pickup comes through the property and picks up at each residence. Signage at the highway is owned.
Financing or payment options are available to highly qualified buyer.
- Amenities No amenities