Outstanding redevelopment opportunity in Vernon’s downtown-adjacent area. This property is zoned CMUB (Commercial Mixed Use: Business), allowing for a wide variety of uses including multi-unit housing, mixed-use residential, office, retail, food and beverage, health services, and more. Notably, the zoning permits Small Scale Multi-Unit Housing on lots under 1,000 m² in this area, providing added flexibility for residential development. With density up to 3.5 FAR an…d height permitted to 6 storeys, the site offers excellent potential for a medium-scale mixed-use or residential project. The existing structure, approximately 842 sq ft on the main level with 2 bedrooms, 1 bathroom, and a kitchen, is currently used as office space. A full unfinished basement (764 sq ft) provides additional storage, offering holding income or interim usability while development plans are advanced. Positioned in a high-visibility location close to Vernon’s downtown core, this property is ideally situated to take advantage of the city’s ongoing growth and revitalization. A rare chance to secure a commercially zoned site with strong development upside. Note: Business occupying the property is not for sale. (id:14735)
Listed by Oakwyn Realty Okanagan.