Welcome to an exceptional opportunity to acquire 3.88 acres of prime commercially zoned land, situated on the vibrant corner of 48th Avenue and 27th Street in Vernon, BC. This property showcases tremendous potential for redevelopment, boasting multiple structures that generate rental income from the current tenants. Positioned on a major arterial route, this rare combination of four lots makes it an ideal site for reimagination into multi-family or commercial development. Within minutes from downtown Vernon, the property offers convenient access to an array of amenities including Village Green Mall, restaurants, retail, financial, and medical services, all within walking distance.
Property Details
| MUNICIPAL ADDRESS’ | 2702 48th Avenue
2706 48th Avenue 2800 48th Avenue 2804 48th Avenue |
| SITE SIZE | 3.88 Acres | 169,021 SF |
| ZONING | C5 |
| FAR | 2.0 |
| LISTING PRICE | $9,250,000 |
| LOT 1 | LOT 2 | LOT 3 | LOT 4 | |
| CIVIC ADDRESS | 2702 48th Avenue | 2706 48th Avenue | 2800 48th Avenue | 2804 48th Avenue |
| PID | 023 – 465 – 387 | 004 – 353 – 579 | 010 – 946 – 322 | 010 – 946 – 276 |
| LAND AREA | 1.33 Acres | 57,935 SF | 0.14 Acres | 6,138 SF | 1.44 Acres | 62,822 SF | 0.96 Acres | 41,974 SF |
| BUILDING ON SITE | Capri Insurance & Scotia Bank | Attridge Ski & Board Shop | Secure Rite Mobile Storage | Vacant Building |
Lot Details
| ADDRESS | LAND AREA (ACRES) | LAND AREA (SF) | BUILDABLE AT 2.0 FAR | |
| LOT 1 | 2702 48th Avenue | 1.33 | 57,935 | 115,870 |
| LOT 2 | 2706 48th Avenue | 0.13 | 6,138 | 12,276 |
| LOT 3 | 2800 48th Avenue | 1.44 | 62,822 | 125,644 |
| LOT 4 | 2804 48th Avenue | 0.96 | 41,974 | 83,948 |
| TOTAL | 3.88 ACRES | 169,021 SF | 337,738 SF |
Vernon C5 Zoning Development Regulations
| FLOOR AREA RATIO (FAR) | 2.0 |
| MAXIMUM SITE COVERAGE | 60% |
| MAXIMUM HEIGHT | 15.0 Meters | 49.21 Ft |
Location
Situated at the corner of 48th Avenue and 27th Street adjacent to Village Green Mall and only a few minutes from the city’s downtown area. This convenient location also offers a diverse array of amenities within walking distance, including restaurants, retail stores, financial institutions, and medical services.
STEVE LAURSEN PREC EXCLUSIVE LISTING