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.
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13415 Lakeshore Drive, Summerland, BC - Court Ordered Sale!