4500 West Saanich Rd
$3,950,000
Royal Oak
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About this home
This 17,425 sq. ft. commercial property presents a rare opportunity to acquire a strategic income-producing site in the rapidly evolving Royal Oak growth corridor. Now offered at a reduced price, the property provides dependable holding income alongside significant long-term redevelopment potential. The fully leased building contains 7 commercial units totalling more than 7,600 sq. ft. of leasable area, supported by a long history of stable tenancy. The site benefits from dual road access, with over 100 ft of frontage on W.Saanich Road and approximately 60 ft on Viewmont Avenue, immediately adjacent to Royal Oak Shopping Centre. Currently zoned C-3, preliminary discussions with the municipality suggest the potential for density exceeding 3.5 FSR. Nearby municipally owned lands have been rezoned to permit buildings of up to 12 storeys, with additional development activity progressing throughout the area. A strong income-producing asset today with meaningful future redevelopment upside. (id:65179)
Property details
From the listing's public record.
Lot size
17,425 square feet
Taxes
$49,038/yr
Zoning
Unknown
Price history
3 recordsEvery recorded listing event for this property — sales, relists, expired or withdrawn listings.
Sep 15, 2026
Listed $3,950,000
Active4 days on marketMLS 1049788Jun 23, 2026
Listed $4,150,000
Ddf_delisted59 days on marketMLS 1041239Feb 19, 2026
Listed $4,400,000
Ddf_delisted119 days on marketMLS 1026444
How this listing compares
Based on 26 sales in Royal OakMedian sold
$1,112,000
Avg days on market
33 days
Avg sale-to-list
98.8%
Avg $/sqft
$513
Current market in Royal Oak
Active (same type)
5
Pending
0
All active listings
34
Months of supply
2.3
Seller's market — 2.3 months of supply at the current sales pace.
Assessment
From publicly available property records.
Assessed value
$2,891,000
Homes in Saanich West sell at 162.6% of assessed value on average.
Based on 232 recent sales.
Local price trend
How Royal Oak has moved over the last decade.
Local price index (normalized) · 119 months
Recent nearby sales
11 sales4348 Harder Rd
$1,027,300
3 bd · 3 ba · 3,231 sqft · $318/sqft · 17 days on market
Sold Aug 21, 2026 · 93.4% of list
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$1,304,000
3 bd · 3 ba · 2,323 sqft · $561/sqft · 29 days on market
Sold Aug 17, 2026 · 100.3% of list
4259 Craigo Park Way
$1,090,000
5 bd · 2 ba · 2,279 sqft · $478/sqft · 31 days on market
Sold Aug 13, 2026 · 99.1% of list
4573 Elk Lake Dr
$1,080,000
3 bd · 3 ba · 2,062 sqft · $524/sqft · 11 days on market
Sold Jul 24, 2026 · 100% of list
523 Caselton Pl
$1,299,000
3 bd · 3 ba · 2,629 sqft · $494/sqft · 11 days on market
Sold Jul 22, 2026 · 99.9% of list
706 Lindsay St
$1,055,000
3 bd · 2 ba · 2,590 sqft · $407/sqft · 19 days on market
Sold Jul 15, 2026 · 97% of list
733 Miller Ave
$1,225,000
3 bd · 2 ba · 1,744 sqft · $702/sqft · 8 days on market
Sold Jun 18, 2026 · 102.4% of list
841 Mann Ave
$975,000
3 bd · 2 ba · 1,832 sqft · $532/sqft · 106 days on market
Sold Jun 15, 2026 · 99% of list
722 Miller Ave
$1,205,000
4 bd · 4 ba · 3,814 sqft · $316/sqft · 24 days on market
Sold Apr 30, 2026 · 97.3% of list
710 Greenlea Dr
$1,072,000
3 bd · 2 ba · 1,988 sqft · $539/sqft · 13 days on market
Sold Apr 7, 2026 · 99.4% of list
772 Mapleton Pl
$989,000
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Sold Apr 2, 2026 · 100% of list
What would this home cost?
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Monthly mortgage
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Loan amount
$3,950,000 − $790,000
Down payment
20.0%
Property Transfer Tax
Legal / closing (est.)
Cash to close
$907,000
Down payment + PTT + GST + legal estimate.
Estimates only, based on current BC rates and thresholds. Not tax, legal, or financial advice. Property transfer tax exemptions have eligibility requirements — confirm with a lawyer or notary. GST rebates on new construction are not modelled here. Mortgage payment uses Canadian semi-annual compounding and excludes property tax, home insurance, and CMHC mortgage insurance.
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Interested in this home?
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Listed by Pemberton Holmes Ltd.