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Okanagan Motel / Development Site $5,900,000

Lot Size/Acres
1.257 Acres
Year Built
1960s
Water Service
Municipal
Land and Building Included
Yes
 

I am pleased to offer this Okanagan Motel, a family favorite in the local accommodation scene.

The  motel has an amazing location! Within steps of the Okanagan Lake, Channel Parkway, Coyote Cruises River Tubing, Loco Landing Adventure Park, guests won't run out of things to do! Local shops such as Starbucks, Tim Hortons, Quality Greens and Pharmasave are a 5 minute walk away. Lakeshore Drive is just around the corner, with over a kilometer of beautiful safe sandy beaches and fabulous restaurants to enjoy.

It is within walking distance to the Penticton Golf and Country Club, the South Okanagan Events Center, Penticton Trade and Convention Center, Cascades Casino, the BC Wine Information Center and the Okanagan Hockey School.

The Penticton Airport is a 10 minute drive from the Riverside Motel, and offers direct flights to and from Calgary and Vancouver.

The current owner and only the third owner since the mid-1960s, currently operates the motel on a seasonal basis with a few year-round “guests”. There are 48 units in total, with 45 being kitchen units, so there is plenty of opportunity to operate year around catering to snowbirds and others seeking off season accommodation!

The Riverside Motel is at a crossroads. With new developments nearby, its future maybe a residential condo site. In the meantime, it is a successful business with families returning year after year to enjoy their vacations at the Riverside Motel.

Penticton offers incredible opportunities in the hospitality industry that other Okanagan cities don’t. Penticton still has that small town feel, but offers all the amenities of the larger cities. With Okanagan Lake at the north end, and Skaha Lake at the south end, Penticton offers all types of watersports, including boating, jet skiing, waterskiing, parasailing, kayaking and of course swimming in the beautiful clean warm lakes! World class wineries, breweries, golf courses and biking/hiking trails surround this beautiful city.

The current zoning is CT1 and the official community plan shows Tourist Commercial. Properties in the area have been developed into upscale residences.( www.riversidepenticton.com ).

Regardless of what you are looking for, a holding property, operating business or a development site, this should be on the top of your list!


Address Hidden
Penticton, BC
Canada
Sale Type: For Sale
Larry Berisoff
RE/MAX Kelowna

P: 250-862-8100
Contact Agent
Total Units
48
Lot Size/Acres
1.257 Acres
Water Service
Municipal
Wastewater Service
Municipal
Residence
2 bedroom
Taxes
$27,739
Year Built
1960s
Zoning
CT1
Kitchen Units
45
Land and Building Included
Yes
Share Sale
Yes
Address Hidden
Penticton, BC
Canada
Sale Type: For Sale
Larry Berisoff
RE/MAX Kelowna

P: 250-862-8100
Contact Agent

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Address Hidden
Penticton, BC
Canada
Sale Type: For Sale
Larry Berisoff
RE/MAX Kelowna

P: 250-862-8100
Contact Agent

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 RE/MAX Kelowna

  • 100-1553 Harvey Avenue
  • Kelowna, BC
  • V1Y 6G1

Larry (Direct) 250.862.8100

Fax 250.862.8100

email@syberrealty.com