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Exceptional investment opportunity featuring one of the North Okanagan's premier commercial gateway properties. Strategically positioned along the Hwy 97 corridor with over 40,000 vehicles passing daily (Ministry of Transportation), the property enjoys exceptional visibility from southbound Hwy 97, where unobstructed sightlines provide motorists with an elevated view for several hundred meters before the Highland Road access. This landmark location combines outstanding exposure, excellent accessibility and long established regional recognition. The property is improved with approximately 24,919 sq. ft. of retail, office, warehouse, cold storage on a fully developed commercial site provides exceptional flexibility for investors owner operators or future redevelopment , subject to applicable approvals. Currently under a triple net lease generating approximately $331,000 in annual base rent, the property offers dependable income while allowing purchasers to evaluate investment performance using their own underwriting assumptions. Extensive recent capital improvement incudes a metal roof (2022) three rooftop HVAC units (2025) LED lighting, automatic entry doors, commercial kitchen exhaust and fire suppression, data rewiring, parking and security fencing. Regional community sewer is underway along the Hwy 97 corridor. Adjacent property with 2.3 acres may be willing to sell too.
Highlights
- Per the listing, the property has about 24,919 sq. ft. of retail, office, warehouse and cold storage space on a 3.3 acre lot.
- Per the listing, the property is under a triple net lease with about $331,000 in annual base rent.
- Per the listing, recent upgrades include a metal roof (2022), three rooftop HVAC units (2025), LED lighting and automatic entry doors.
- Swan Lake is 320 m away and Vernon town centre is 7.9 km, straight-line, per the listing.
Things to check
- Ask for the current lease, including its end date and tenant terms, to understand the triple net lease.
- Ask whether the property connects to the regional community sewer, since the listing shows a septic tank and says sewer work is underway.
- Ask which zoning permits the retail, office, warehouse and cold storage uses, and what approvals a redevelopment would need.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Insider tip: Alberta has no land transfer tax, but B.C. charges property transfer tax when the title registers in your name. Buying a home in B.C. when you’re moving from out of province →
Overall neighbourhood score 7.1 / 10; walk & bike score 1.4 / 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.
- Price
- $5,790,000
- MLS® number
- 10400212
- Property type
- Commercial
- Living area
- 24,919 sq ft
- Lot size
- 3.3 acres
- Year built
- 1993
- Annual taxes
- $30,242
- Community
- Swan Lake West, Vernon
- Heating
- Forced air
- Cooling
- Central air conditioning
- Parking
- Oversize, Additional Parking
- Roof
- Metal
- Exterior
- Metal
- Lot features
- Level lot
- Water
- Irrigation District
- Sewer
- Septic tank
- Utilities
- Water, Sewer, Natural Gas, Electricity, Cable, Telephone
- Accessibility
- Accessible Entrance
- Fencing
- Chain link
- Parking details
- Oversize, Additional Parking
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Listing information is provided by RE/MAX Vernon through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-09-30.