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$930,000

2 DRAKE ROAD

Salt Spring Island, Salt Spring · MLS® R3134354

20,431 sq ft lot

Land · Vacant Land · 121 days on market

Listed by Ian Brown, Newport Realty Ltd.

Realtor's description

Offered here for the first time in over two decades is a rare commercial lot. Nearly 1/2 acre at the entrance to Ganges with 3 road frontages, this could be a prominent location for any business. With C-1 zoning, a multitude of uses (commercial and residential) can be considered. A blue chip addition to any portfolio.

Property details

Type: Land, Vacant Land
Lot: 20,431 sq ft
Parking: 0
Property tax: $9,415 / yr
Days on market: 121
MLS®: R3134354

Property insights

On market 121 days

The market here

Listed now: 159 days; median for 40 homes for sale; this one 121 days

Homes in Salt Spring. Sale prices register 1 to 3 months after a sale closes.

Monthly cost

$4,837/mo

Mortgage $4,052 · Tax $785

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.

estimated payment

$4,052/ monthly

loan $744,000

25-year amortization

down payment20% · $186,00020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $471,576
property transfer tax: $16,600; BC general rate
cash to close: $202,600; down + PTT
total paid: $1,215,576

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

Location

Lot outline: 8,425 m² (90,686 sq ft) · PID 003-607-771. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

Salt Spring Island, Salt SpringGoogle Maps ↗

Location

Salt Spring Island, Salt SpringGoogle Maps ↗

Good to know

Agricultural Land Reserve
This address is inside the Agricultural Land Reserve. ALR land is set aside for farming; building, subdividing and non-farm uses follow Agricultural Land Commission rules.
Source: Agricultural Land Commission, ALR boundary

From public government maps, matched to the listing's map pin. Maps can be out of date or miss a lot line; confirm with the municipality.

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