Listing courtesy of RE/MAX Kelowna.
HIGH DEMAND, POTENTIAL INDUSTRIAL LAND IN THE APPALOOSA/SEXSMITH AREA OF KELOWNA Asking: $3.9 million (under $2.3 million per acre!) Rarely available 1.75-acre property currently zoned A1 with potential to rezone to “I2 – General Industrial”. City of Kelowna has currently designated this property “IND – Industrial” in the 2040 OCP. Service upgrades to the Appaloosa/Sexsmith area are already underway but have not yet been approved for 2876 Appaloosa. The seller is involved in starting a rezoning application to I2 - General Industrial with 4 neighbouring properties. Buyers are encouraged to verify if an estimate of $300,000 for servicing/rezoning and an additional $300,000 for site leveling/lock block retaining walls are reasonable estimates for their development plans. The property at 2876 Appaloosa Rd is well positioned to benefit from the draft 2022 City of Kelowna Zoning Bylaws, which currently designates I2 zoning allowing for a maximum site coverage of all buildings to 60%, max. base density (FAR) 1.5 and a max. base height up to 16 m. This is an outstanding industrial redevelopment site. The current single-family home rents for $3800 per month and can provide holding income until the property is redeveloped. (id:2579)