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101 Martin St and 98 Winnipeg St 1 Land Properties Offered at $4,533,000 CAD in Penticton, BC
Investment Highlights
- Walking distance to Okanagan Lake, Main Street, restaurants, and retail
- Potential for high-density redevelopment with FAR up to 6.0 under C5 zoning
- Combined ±0.95-acre site in Downtown Penticton with dual street access
- No minimum parking requirements under C5 zoning, improving project economics
Executive Summary
Exceptional opportunity to purchase a ±0.95 acres development site suitable for condominiums or purpose built rental apartments. Current zoning: P1. The Property is offered in its current zoning. The Seller will consider offers conditional upon the Buyer obtaining rezoning to C5 (Urban Centre Commercial). C5 zoning allows gross FAR of up to 6.0, providing meaningful density potential. Dual site access via Martin Street and Winnipeg Street. No minimum parking requirements under C5 zoning, enhancing developable efficiency and project economics. Ground-floor commercial required, with residential permitted above, aligning with modern mixed-use urban development trends. List price equates to ~$110/SF of land. Occupancy required through end of 2026; flexible closing/leaseback options available. CMHC-reported Penticton rental vacancy rate of approximately 2.6%, underscoring strong rental demand fundamentals.
Property Facts
| Price | $4,533,000 CAD | Number of Properties | 2 |
| Sale Condition | Redevelopment Project | Individually For Sale | 0 |
| Sale Type | Investment | Total Land Area | 0.75 AC |
| Status | Active |
| Price | $4,533,000 CAD |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Land Area | 0.75 AC |
Properties
| Property Name / Address | Property Type | Size | Individual Price |
|---|---|---|---|
| 101 Martin St, Penticton, BC V2A 5J9 | Land | 0.75 AC | - |
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101 Martin St and 98 Winnipeg St
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