4500 West Saanich Rd, Saanich
SW Royal Oak · Mixed Use · MLS® 1041239 · Listed Jun 23, 2026
This 17,425 sq. ft. commercial property offers a rare opportunity to secure a strategic site in the rapidly evolving Royal Oak growth corridor. Now offered at a reduced price with increased rental income, the property provides dependable holding income with significant long-term redevelopment potential.The site features dual road access, with over 100 feet of frontage along West Saanich Road and approximately 60 feet along Viewmont Avenue, immediately adjacent to Royal Oak Shopping Mall. The existing fully leased building comprises seven commercial units and over 7,600 sq. ft. of leasable area, supported by a long history of stable tenancy. Zoned C-3, preliminary discussions with the municipality indicate potential density in excess of 3.5 FSR. Nearby city-owned lands have been rezoned for buildings up to 12 storeys, with additional developments progressing through the area. A strong income-producing asset today with meaningful future density upside.
| Property Type | Mixed Use |
| Lot Size | 17,425 sqft (0.4 acres) |
| Parking | 31 spaces |
| Taxes | $49,038 (2025) |
| MLS® # | 1041239 |
| Brokerage | Pemberton Holmes Ltd. |
Similar properties sold within 6 months
Royal Oak single-family averages, updated daily. See Royal Oak market stats or Saanich market stats.
It is listed at $4,150,000.
It has 31 parking spaces.
The lot is 17,425 sqft (0.4 acres).
Saanich is currently a seller's market: median sold price $1,197,450, 2.1 months of inventory, homes typically selling in about 38 days.
MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. Data last updated: Jul 25, 2026.
