Exceptional opportunity to purchase a ±0.95 acres development site suitable for condominiums or purpose built rental apartments. The Property is offered for sale in its current P1 zoning and will be sold on an as-is zoning basis. The Property is located within the downtown area and adjacent to lands designated and zoned for Urban Centre / commercial uses, which align with C5 (Urban Centre Commercial) zoning, subject to municipal approvals. C5 zoning permits a gross FAR of up to 6.0, providing meaningful density potential. Dual site access via Martin Street. No minimum parking requirements under C5 zoning, enhancing developable efficiency and project economics. Ground-floor commercial required, with residential permitted above, aligning with modern mixed-use urban development trends. List price equates to ~$110/SF of land. Occupancy required through end of 2026; flexible closing/leaseback options available. CMHC-reported Penticton rental vacancy rate of approximately 2.6%, underscoring strong rental demand fundamentals.