COURT ORDERED SALE Prime corner lot in Fairview RD and Calgary Ave Penticton. Property comprises a long standing grocery store and separate 2 bed house. Both buildings are old, grocery store closed. Value is in the land. Current zoning is C2 neighbourhood commercial. Area is in transition with mix of single family, multifamily and commercial. This is an ideal site for townhouses or apartments. All offers subject to court approval. NOTE: Seller will leaseback all 3 units on a 3 year triple net lease @ $15.00 sq/ft showing a net income of $61,500 per year with a 6% CAP rate. These units are in the incentive zone and qualify for 5 year property tax exemption on improvements. Email Listing Agent for information package. (id:16512)
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