TENANTED SINGLE-STOREY INDUSTRIAL BUILDING WITH REDEVELOPMENT POTENTIAL INDUSTRIAL DEVELOPERS AND INVESTORS

1505 Hardy Street Kelowna , BC

1505 Hardy Street , Kelowna , BC, CA
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FOR SALE Off Market Listing
Property Type:
Industrial
Amount:
$13,500,000
Cap Rate:
0.00%
Last Verified:
Dec 21, 2023

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Trophy industrial property in Central Kelowna with the potential for further densification through redevelopment. The property is 3.111 acres of prime industrial land and is currently zoned I2 – Light Industrial. The current zoning would allow a potential redevelopment of just over 200,000 SF based on the Max FAR and up to 3 storeys. There is a tenanted, single-storey, 21,540 SF commercial building with 3 units. Offering cash flow and holding income until the property can be further redeveloped.

Map of 1505 Hardy Street , Kelowna , BC, CA

Presented by:
RE/MAX Commercial

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Kris McLaughlin *PREC


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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.