Turtle Bay Crossing $ 18,500,000
11850 Oceola Road, Lake Country, BC

Turtle Bay Crossing $18,500,000.

11850 Oceola Road, Lake Country, BC


Property Description

HM Commercial Group is pleased to present Turtle Bay Crossing – a highway commercial centre in Winfield/Lake Country, BC, a bedroom community.
 
  • Anchored by Starbucks, Liquor Store, IDA Pharmacy, Walk-In Clinic, Anytime Fitness, Pizza Hut among others
  • Two drive-thrus means additional revenue source and competitive advantage over other centres
  • Modern construction means no deferred maintenance like on older centres
  • Total GLA up to 53,162 SF of leasable area (per zoning)
  • Strategically located on Hwy 97N at a signalized intersection, the first one motorists incur coming southbound from Vernon/Calgary
  • 12 minute drive to Kelowna International Airport and UBC Okanagan 
  • Vendor will deliver two new buildings fully-leased or with rent guarantees (8,738 SF GLA)
  • Future upside from development of Building 7 (proposed as a 2 storey), pre-paid soft costs for servicing, site-prep
  • Living wall / retaining wall system ($1.5 million capital cost that created extra square footage, fully
  • engineered)
List Price: $18.5 Million* (share purchase available)
CAP Rate: 5%
 
*Includes construction and lease-up or lease guarantee for up to 2 years on Buildings 1 & 4 (8,738 SF GLA)

Additional Information

Municipal Address11850 Oceola Road, Lake Country, BC
Legal DescriptionLot B, Plan EPP34757, Section 22, Township 20, Land District 41, ODYD
PID029-455-804
LocationTurtle Bay Crossing is strategically located between Kelowna and Vernon along Highway 97, the major connector route through the Okanagan. The site features a high profile corner location that sees traffic counts in excess of 31,270 vehicles per day. Situated in Lake Country, Turtle Bay Crossing benefits from being located in one of the fastest growing communities in BC, and is located just minutes from UBC Okanagan and the Kelowna International Airport.
Building Area37,161 SF
Land Area5.041 acres
Leasable Area37,161 SF
Parking4.5 stalls/1,000 SF of retail space
ZoningDC12, Direct Control 12 (Turtle Bay Crossing Development Ltd.)
Taxes$172,033 (2017)

Property Map


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E. & O. Insurance The information contained herein is assumed to be correct but is not guaranteed by the Listing Agent or Publisher and should be verified.

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Direct: 250.712.3130
Fax: 250.860.1600
info@hmcommercial.com

2700 Richter St. Kelowna, BC V1Y 2R5