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Premier Landmark commercial property, the Towne Theatre building, on 30th Avenue, Vernons main retail downtown street. Strong diversified tenant mix with excellent income. 95% leased with med to long term leases, many recently renewed, current gross income $285,900. Increasing to $299,000 in 2027. Also rezoned for high density mixed use commercial/ residential development up, to 16 floors. The building sits on .50 acre site large enough for a future high density project without the need for a land assembly. The site has frontage on 2 streets, 30th and 29th avenue, and has 2 side lanes for amazing access for future re-development. Major updates incl New HVAC heaters 2013,Roof 2017, new hi-eff Boilers with electronic controls for theater space 2021. Current tenants include Towne Theatre Society, Castanet Media, Ustaad G76 restaurant, Metis Cultural Society, Centre for Positive Living, Vibe Art Gallery, Dan Poulin Law, and various small businesses in the 2nd floor offices.
Updates mentioned by the listing
- RoofUpdated 2013“Major updates incl New HVAC heaters 2013,Roof 2017, new hi-eff Boilers with electronic controls for theater space 2021.”
- Furnace / HVACUpdated 2013“Major updates incl New HVAC heaters 2013,Roof 2017, new hi-eff Boilers with electronic controls for theater space 2021.”
From the listing description. Ask Sean to confirm ages and receipts before you write an offer.
Highlights
- Per the listing, the building is 95% leased on medium to long-term leases, with current gross income of $285,900.
- Per the listing, gross income is set to rise to $299,000 in 2027.
- The site is 0.5 acres with frontage on 30th and 29th avenues and two side lanes.
- Per the listing, the roof was updated in 2017, HVAC in 2013, and high-efficiency boilers for the theatre space in 2021.
- The property is not in a City flood or wildfire hazard permit area, and the Town centre is about 130 m away.
Things to check
- Ask for the current rent roll and copies of leases, including expiry dates and details of the unleased portion of the building.
- Ask the City to confirm the current zoning and maximum height, since the listing describes a rezoning to up to 16 floors.
- The City has a development application on file within about 400 m. See City of Vernon map facts for details.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Insider tip: Zoning, permits and what you can build or rent out depend on whether a property is in Vernon, Coldstream or the regional district. Vernon area questions, answered →
Overall neighbourhood score 8.6 / 10; walk & bike score 7.8 / 10, from how close the nearest school, park or trail, rec centre and town centre are. Scores and distances are Sean Phillips’s own straight-line measures from this home to public B.C. map data. They are not part of the MLS® listing; driving distances are longer, so please check anything that matters to you.
- Grocery storeCanadian Wholesale Club · 0.6 km8 min each way10 m uphill coming home · 0% tree shade
- CoffeeThe Bean Scene · right next door1 min each wayMostly flat
- Elementary schoolBeairsto Elementary School · 0.3 kmSchool walk check: Footpaths, sidewalks or quiet streets for about 75% of the walk · 3 main-road crossings: 29 Street (marked crosswalk), 30 Avenue (marked crosswalk), 32 Avenue (marked crosswalk)5 min there, 4 min homeMostly flat · 0% tree shade
- Park or playgroundCenotaph Park · 0.1 km2 min each wayMostly flat
- Beach / lake accessKal Beach · 4.0 km49 min there, 48 min home55 m uphill on the way there · 19% tree shade
- DowntownDowntown Vernon · 0.6 km8 min each way10 m uphill on the way there · 9% tree shade
- Rail trailOkanagan Rail Trail · 3.9 km50 min there, 49 min home70 m uphill on the way there · 18% tree shade
- HospitalVernon Jubilee Hospital · 1.1 km15 min there, 14 min home35 m uphill on the way there · 6% tree shade
- GolfVernon Golf Club · 1.9 km24 min there, 23 min home30 m uphill on the way there · 10% tree shade
- Grocery storeFreshCo · 0.7 km4 min each way10 m uphill coming home · 0% tree shade
- CoffeeThe Bean Scene · right next door2 min each wayMostly flat
- Elementary schoolBeairsto Elementary School · 0.3 km3 min there, 2 min homeMostly flat · 0% tree shade
- Park or playgroundCenotaph Park · 0.1 km2 min each wayMostly flat
- Beach / lake accessKal Beach · 4.0 km19 min there, 17 min home50 m uphill on the way there · 19% tree shade
- DowntownDowntown Vernon · 0.7 km4 min each way10 m uphill on the way there · 0% tree shade
- Rail trailOkanagan Rail Trail · 4.0 km19 min there, 18 min home70 m uphill on the way there · 19% tree shade
- HospitalVernon Jubilee Hospital · 1.2 km8 min there, 6 min home30 m uphill on the way there · 2% tree shade
- GolfVernon Golf Club · 1.9 km10 min there, 9 min home25 m uphill on the way there · 9% tree shade
- Grocery storeFreshCo · 0.7 km3 min each way10 m uphill coming home · 0% tree shade
- CoffeeThe Bean Scene · right next door2 min each wayMostly flat
- Elementary schoolBeairsto Elementary School · 0.3 km2 min each wayMostly flat · 0% tree shade
- Park or playgroundCenotaph Park · 0.1 km2 min each wayMostly flat
- Beach / lake accessKal Beach · 4.0 km12 min each way55 m uphill on the way there · 18% tree shade
- DowntownDowntown Vernon · 0.6 km3 min each way10 m uphill on the way there · 9% tree shade
- Rail trailOkanagan Rail Trail · 3.9 km12 min each way70 m uphill on the way there · 17% tree shade
- HospitalVernon Jubilee Hospital · 1.2 km5 min there, 4 min home30 m uphill on the way there · 2% tree shade
- GolfVernon Golf Club · 1.9 km7 min each way25 m uphill on the way there · 9% tree shade
Sean Phillips’s own estimate, not part of the MLS® listing. Real routes on public map paths and roads, with the hills counted both ways, to the quickest-to-reach place of each kind. Times are averages for a relaxed pace; please check anything that matters to you. Map data © OpenStreetMap contributors. How HillSmart ratings work →
- Price
- $2,950,000
- MLS® number
- 10372900
- Property type
- Single-family home
- Living area
- 28,107 sq ft
- Lot size
- 0.5 acres
- Annual taxes
- $52,128
- Community
- City of Vernon, Vernon
- Water
- Municipal water
- Sewer
- Municipal sewage system
- Utilities
- Water, Sewer, Natural Gas, Electricity, Cable, Telephone
From the City of Vernon’s public maps, checked October 26, 2026. Not part of the MLS® listing. Please confirm anything important with the City.
- 3003 28 AVE: This application is for a form and character Development Permit for a 32-unit, six-storey social housing development that would be owned and operated by the Canadian Mental Health Association. Application
- 3003 28 AVE: This application seeks to vary the following sections of Zoning Bylaw 6000 for a six-storey, 32-unit social housing development owned and operated by the Canadian Mental Health Association: - Building Setback (CMUC Zone, Sec. 11.3.5): Reduce the setback from 28th Ave from 1m to 0.2m for Levels 2 through 6. - Landscape Buffers (Table 6.1): Reduce the required 1.5m-wide buffer along the lane to 0m, except for a 2.6m-long planter. - Landscape Buffers (Table 6.1): Reduce the required 1.5m-wide buffer along the street to 0m, except for a 6.89m-long planter. Application
- 2804 35 AVE: To allow the temporary use of a standalone parking facility (surface parking lot) in the CMUB zone. Application
A nearby fire hall matters for home insurance and emergencies; firefighters are often first on scene for medical calls too.
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Listing information is provided by Realty One Real Estate Ltd through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-09-30.