An excellent opportunity to acquire a fully leased, 7-unit commercial building situated on a 17,425 sq. ft. lot in the heart of Royal Oak. The property offers strong holding income, dual road access with over 100 ft of frontage on West Saanich Rd and approx. 60 ft on Viewmont Ave, and is positioned directly beside the Royal Oak Shopping Centre. This well-maintained building has a long history of stable tenancy and minimal vacancy, benefiting from steady neighbourhood traffic, nearby amenities, and excellent connectivity to the Pat Bay Highway and Royal Oak Transit Exchange. Currently zoned C-3 Commercial (1.2 FSR), preliminary discussions with the District of Saanich indicate future rezoning potential to approximately 3.5 FSR, allowing for over 61,000 sq. ft. of buildable area. With city-owned lands across the street rezoned for up to 12 storeys and several mixed-use developments planned nearby, this property offers secure income today with exceptional long-term redevelopment potential.
Address
4500 West Saanich Rd
List Price
$4,400,000
Property Type
Commercial Sale
Type of Dwelling
Mixed Use
Transaction Type
Sale
Area
Saanich West
Sub-Area
SW Royal Oak
Lot Size
17425 Sq. Ft.
Lot Size (Acres)
0.4 Ac.
MLS® Number
1017882
Listing Brokerage
Pemberton Holmes Ltd.
Postal Code
V8Z 5L3
Tax Amount
$49,038.00
Tax Year
2025