An excellent opportunity to acquire a fully leased, 7-unit commercial building situated on a 17,425 sq. ft. lot in the heart of Royal Oak. The property offers strong holding income, dual road access with over 100 ft of frontage on West Saanich Rd and approx. 60 ft on Viewmont Ave, and is positioned directly beside the Royal Oak Shopping Centre. This well-maintained building has a long history of stable tenancy and minimal vacancy, benefiting from steady neighbourhood traffic, nearby amenities, and excellent connectivity to the Pat Bay Highway and Royal Oak Transit Exchange. Currently zoned C-3 Commercial (1.2 FSR), preliminary discussions with the District of Saanich indicate future rezoning potential to approximately 3.5 FSR, allowing for over 61,000 sq. ft. of buildable area. With city-owned lands across the street rezoned for up to 12 storeys and several mixed-use developments planned nearby, this property offers secure income today with exceptional long-term redevelopment potential. (id:24212)
- Full Address:
- 4500 West Saanich Road, Saanich, British Columbia
- Price:
- $ 4,400,000
- MLS Number:
- 1017882
- List Date:
- October 20th, 2025
- Neighbourhood:
- Royal Oak
- Building Size:
- 7648 sq.ft.
- Lot Size:
- 17425 ac
- Taxes:
- $ 49,038
- Ownership Type:
- Freehold
Property Specifications
Interior Features
- Building Size:
- 7648 sq.ft.
- Zoning:
- Unknown
- Garage Spaces:
- 31
Building Features
Floors
- Lot Size:
- 17425 ac
Land
Neighbourhood Features
Ratings
Commercial Info
- Business Type:
- Service
Location
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Neighbourhood Details
Agent: Kane RyanBrokerage: Pemberton Holmes Ltd.
Phone: 250-986-8900
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