Potential for industrial redevelopment - 3116 Appaloosa Road

Kelowna , BC V1V 2G9

Kelowna
FOR SALE
Property Type:
Commercial Land Development
Amount:
$2,290,000
Cap Rate:
0.00%
Last Verified:
Sep 23, 2024

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Potential for industrial redevelopment, in the Appaloosa/Sexsmith area of Kelowna. Single family home on 1 acre, currently zoned RR2, thisproperty has been identified, in the City of Kelowna’s 2040 OCP, with a future use designation of IND – Industrial, similar to neighbouringproperties that have been successfully rezoned to I2. Existing home, built in 1985, totals +/-2,193 SF with +/-1,223 SF on the main and +/-970SF on a lower/basement level and includes 4 bedrooms and 3 bathrooms. In-law a suite on the lower level (not legal) with a separate entrance.Double garage and a detached workshop, 32’ x 20’ with a loft. Home could provide holding income if rented, while waiting for redevelopment.The property has easy access to and from Highway 97 N via Sexsmith Rd and is only minutes from UBC Okanagan, Kelowna InternationalAirport and Highway 33.

Map of Kelowna , BC, V1V 2G9, CA

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.