196 Vermilion Avenue
Princeton, BC V0X1W0
$1,395,000
Property Details
Property & Lot
- Sub-type
- Other
- Lot size
- 0.2 acres
Ownership & Fees
- Property type
- Land / Lot
- Ownership
- Freehold
- Annual property tax
- $3,183.94
Interior
- Fireplace
- None
Listing Information
- MLS®
- 10383623
- Listed
- April 15, 2026
- Time on market
- On the market for 138 days
- Data last synced
- August 28, 2026
Listing provided by: Canada Flex Realty Group · Data source: CREA DDF.
Description
Shovel-ready mixed-use development site with Development Permit in place — downtown Princeton, BC. Rare Development Permit-approved opportunity offered with a complete, construction-ready development package. The 9,066 sq ft footprint at 196 Vermilion Avenue carries an issued Development Permit for a proposed four-storey mixed-use building of 27 residential suites (21 one-bedroom / 6 two-bedroom) over four ground-floor commercial units. Current zoning permits mixed-use and hotel use, and the Town of Princeton has confirmed short-term rental use. An adjacent 20-stall parking arrangement is secured by registered covenant. The included package features full architectural and modular design documentation, a Class C cost estimate, and a professional appraisal — positioning a purchaser to move directly to construction. A strong fit for developers and investors seeking an approved, ready-to-build site in BC’s growing Southern Interior. Proposed building area approx. 23,677 sq ft. All measurements, permitted uses, and permit conditions are approximate and to be independently verified by the buyer. Detailed development and financial package available to qualified parties on request. (id:63159)
Location Insights
Weather
13°C
Partly Cloudy
Humidity 69%
Wind N calm km/h
Tonight
7°
Tuesday
26°
Tuesday night
12°
Wednesday
22°
Wednesday night
10°
Thursday
17°
Source: Environment and Climate Change Canada.
Population
2,894
(2021 Census)
+2.3% since 2016
Density: 48.8/km²
Dwellings: 1,521
Median household income: $64,500
After-tax: $60,000
Immigrant population: 8.5%
Top countries of origin (% of total population)
- United Kingdom1.9% · 55
- United States of America1% · 30
- Germany0.9% · 25
- Philippines0.9% · 25
- Croatia0.3% · 10
- India0.3% · 10
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
70
7/9 categories nearby
Transit
—
Not enough data yet
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| Princeton Alternate School | Secondary | 675 m |
| Princeton Secondary | Secondary | 1.3 km |
| John Allison Elementary | Elementary | 1.5 km |
| Vermilion Forks Elementary | Elementary | 1.5 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
No TransLink stops within an ~10-minute walk.
Nearby Places
Restaurants (5+)
- CitySlice Pizzeria · 160 Tapton Avenue61 m
- The Copper Pit · 157 Vermilion Avenue127 m
- Mikado Sushi · 130 Bridge Street202 m
- Little Creek Grill · 117 Bridge Street252 m
- Billy's Family Restaurant · 301 Vermilion Avenue322 m
Cafes (4)
- Cool Beanz Coffee House · 136 Tapton Avenue157 m
- Frannie's coffee · 142 3rd Street157 m
- Cowboy Coffee · 255 Vermilion Avenue174 m
- Thomasina · 279 Bridge Street505 m
Grocery (2)
- Loonie Bin · Bridge Street405 m
- Save-On-Foods · 258 Bridge Street430 m
Parks (5+)
- Veterans Square243 m
- Two Rivers Park481 m
- Unnamed554 m
- Unnamed555 m
- Rotary Splash Park · Lime Street581 m
Shopping (1)
- FIELDS · 233 Vermilion Avenue108 m
Pharmacies (2)
- I.D.A. · 114 Tapton Avenue120 m
- Shoppers Drug Mart · 232 Bridge Street372 m
Banks & ATMs (3)
- Valley First · 114 Tapton Avenue197 m
- Unnamed246 m
- CIBC · 226 Bridge Street345 m
Nearby places data: © OpenStreetMap contributors.
School district: Nicola-Similkameen (SD58)
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No similar listings found nearby right now.
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Mortgage & Ownership Cost Calculator
Minimum required: 8.2% ($114,500) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.