4500 West Saanich Rd
Saanich, British Columbia
MLS® 1049788
$3,950,000
- Status
- Active
- Property type
- Retail
- MLS® number
- 1049788
- Bedrooms
- —
- Bathrooms
- —
- Year built
- —
1 / 8Listing description
This 17,425 sq. ft. commercial property presents a rare opportunity to acquire a strategic income-producing site in the rapidly evolving Royal Oak growth corridor.
Now offered at a reduced price, the property provides dependable holding income alongside significant long-term redevelopment potential. The fully leased building contains 7 commercial units totalling more than 7,600 sq. ft.
of leasable area, supported by a long history of stable tenancy. The site benefits from dual road access, with over 100 ft of frontage on W. Saanich Road and approximately 60 ft on Viewmont Avenue, immediately adjacent to Royal Oak Shopping Centre.
Currently zoned C-3, preliminary discussions with the municipality suggest the potential for density exceeding 3. 5 FSR. Nearby municipally owned lands have been rezoned to permit buildings of up to 12 storeys, with additional development activity progressing throughout the area.
A strong income-producing asset today with meaningful future redevelopment upside.
Property summary
- MLS® number
- 1049788
- Property type
- Retail
- Building type
- Retail
- Title
- Freehold
- Land size
- 17425 square feet
- Annual property taxes
- $49,038.00
- Parking
- 31 spaces
- Days on market
- 4 days
What would this home cost you?
Based on the $3,950,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Pemberton Holmes Ltd., Victoria.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.