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970-974 Mckenzie Av 0.76 Acres of Commercial Land Offered at $3,100,000 CAD in Victoria, BC V8X 3G7
INVESTMENT HIGHLIGHTS
- Gently sloping corner site
- Close proximity to amenities
- Favorable Official Community Plan designation supporting multifamily development density
- Desirable central location
- Located at controlled intersection
- Desirable condominium or purpose-built rental location
EXECUTIVE SUMMARY
The residential makeup in the area is predominantly single-family dwellings with medium density apartment and condominium units along McKenzie Avenue. This area is popular with renters as it benefits from the favorable bus routes directly to the University of Victoria along the McKenzie corridor, and its central suburban location makes for an easy commute to Victoria’s downtown core, the Saanich Peninsula, and the Westshore.
The Subject property is identified in a primary growth area and is surrounded by recently approved and legacy multifamily properties. Saanich’s current OCP speaks to mid-rise buildings of up to 12-storeys in this location. There is a current development permit application (unapproved) for an 8-storey building which equates to a 2.9:1 FAR.
The Subject property is identified in a primary growth area and is surrounded by recently approved and legacy multifamily properties. Saanich’s current OCP speaks to mid-rise buildings of up to 12-storeys in this location. There is a current development permit application (unapproved) for an 8-storey building which equates to a 2.9:1 FAR.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $3,100,000 CAD | Lot Size | 0.76 AC |
| Price Per AC | $4,078,947.37 CAD |
| Price | $3,100,000 CAD |
| Price Per AC | $4,078,947.37 CAD |
| Lot Size | 0.76 AC |
The subject assembly is well-located at the corner of Saanich Road and McKenzie Avenue. The area is within walking distance to a diverse mix of commercial amenities at the corner of Quadra Street and McKenzie Avenue.
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Walk Score®
Very Walkable (72)
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970-974 Mckenzie Av
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