This 17,425 sq. ft. commercial property presents a rare opportunity to acquire a strategic income-producing site in the rapidly evolving Royal Oak growth corridor. Now offered at a reduced price, the property provides dependable holding income alongside significant long-term redevelopment potential. The fully leased building contains 7 commercial units totalling more than 7,600 sq. ft. of leasable area, supported by a long history of stable tenancy. The site benefits from dual road access, with over 100 ft of frontage on W.Saanich Road and approximately 60 ft on Viewmont Avenue, immediately adjacent to Royal Oak Shopping Centre. Currently zoned C-3, preliminary discussions with the municipality suggest the potential for density exceeding 3.5 FSR. Nearby municipally owned lands have been rezoned to permit buildings of up to 12 storeys, with additional development activity progressing throughout the area. A strong income-producing asset today with meaningful future redevelopment upside.
Address
4500 West Saanich Rd
List Price
$3,950,000
Property Type
Commercial Sale
Type of Dwelling
Retail
Transaction Type
Sale
Area
Saanich West
Sub-Area
SW Royal Oak
Lot Size
17425 Sq. Ft.
Lot Size (Acres)
0.4 Ac.
MLS® Number
1049788
Listing Brokerage
Pemberton Holmes Ltd.
Postal Code
V8Z 5L3
Tax Amount
$49,038.00
Tax Year
2025