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13415 Lakeshore Drive - LAKEFRONT development site in Summerland - Court Ordered Sale!

Blog by | October 31st, 2011

13415 Lakeshore Drive ~ Prime 1.75 acre re-development site

Reduced by $915,000 ~ originally listed for $3,850,000

Now listed for $2,899,000!

BC Assessed value = $3,938,000


Lakefront property in Summerland, BC

Two existing buildings with a total of approximately 30,000 sq. ft. for potential holding income

Located adjacent to the Summerland Yacht Club

Summerland is located in the Okanagan Valley between Kelowna and Penticton, one of the fastest growing areas in Canada.

Access to full municipal services

Zoning = CT1 - Tourist Commercial

Proposed development zoning - Third reading passed in May 2009 for re-zoning to CD8 - Comprehensive Development Zone with plans for a 7 storey, 88 unit condo development to include 14,000 sq. ft. of commercial space.

Existing buildings are in leasable condition and until recently, leases were in place that generated approximately $180,000.00 per annum. Leases were not renewed due to current circumstances.

Click here for more information:
13415 Lakeshore Drive, Summerland, BC - Court Ordered Sale!