Penticton BC Strata Warehouse Prices: Local Market Analysis

Quick Facts

• Average price: $361/SF

• Price range: $315-$429/SF

• Average DOM: 114 days

• Sale-to-list average: 95.6%

• Market status: Stable

Penticton Strata Warehouse Market Overview

Analysis of 11 recent sales between February 2023 and December 2025 reveals sale prices ranging from $315 to $429 per square foot, with an average of $361/SF—a significant spread driven by variations in construction quality, age, and features.

The market demonstrated remarkable resilience through 2023 and into 2025, with pricing remaining stable despite the Bank of Canada's aggressive interest rate increases. This stability reflects the owner-occupier dominated nature of the market, where small business owners prioritize functional utility and ownership over investment returns, making them less sensitive to financing costs than passive investors.

Construction quality continues to command premiums—premium concrete tilt-up buildings with 24-foot ceilings consistently outperformed basic steel construction by 20-30%. The market's owner-occupier base provides stability, and with declining interest rates and tightening inventory, the outlook is positive for 2026.

Recent Strata Warehouse Unit Sales

• 1641 Dartmouth Road, Penticton - 1,950 SF main floor, potential for mezzanine not built out, M1 zoning, built 2024, sold for $614,500 on November 20, 2024, $315/SF. New steel-built unit with three-phase power, 2-stage high efficiency furnace/3-ton cooling, glassed storefront entry and overhead door. Features level entry and modern construction suited for various industrial and service commercial uses.

• 1641 Dartmouth Road, Penticton - 1,950 SF main floor, no mezzanine, M1 zoning, built 2024, sold for $639,000 on June 7, 2024, $328/SF. Brand new single-storey unit with 24' ceiling height, 200 amp 3-phase service, 12'x14'-9" overhead door, double-glazed glass storefront entry, concrete slab floors, drywall and insulation, 2-piece bathroom, and two dedicated parking stalls.

• 78 Industrial Avenue, Penticton - 1,091 SF main floor, plus loft area for storage/office, C7 zoning, built 1995, sold for $362,500 on July 25, 2023, $332/SF. Well-maintained unit with retail/office space in front and warehouse in back featuring large overhead door and high ceilings throughout. The loft area provides additional functional space, and the C7 zoning permits wide variety of commercial uses.

• 2203 Dartmouth Drive, Penticton - 1,002 SF main floor, 435 SF mezzanine, C7 zoning, built 2010, sold for $355,000 on December 15, 2025, $354/SF. Service commercial strata unit with drywall and insulation, full 2-piece bathroom, and mezzanine level providing additional workspace or storage. Features single-phase electrical power and includes 3 dedicated surface parking stalls.

• 1641 Dartmouth Road, Penticton - 1,950 SF main floor, 500 SF mezzanine, M1 zoning, built 2024, sold for $690,000 on January 10, 2025, $354/SF. New insulated steel building with storefront entry, fire-rated and roughed-in plumbing and electrical. Features 3-phase power, dual heating (forced air and heat pump), both person and overhead doors, and level entry providing excellent functionality for various industrial uses.

• 197 Warren Avenue, Penticton - 1,790 SF main floor, 663 SF mezzanine, C7 zoning, built 1993, sold for $660,000 on February 15, 2023, $369/SF. Extremely well-maintained commercial space with bright and open plan layout, 17-foot ceilings, and large overhead door at rear. The bonus mezzanine level overlooks the main front foyer. Three-phase electrical power, close to central shopping areas, Main Street, and transit.

• 320 Okanagan Avenue, Penticton - 1,500 SF main floor, mezzanine available, M1 zoning, built 2022, sold for $570,000 on November 23, 2023, $380/SF. Custom-built concrete fully insulated tilt-up building with 24-foot ceilings. Features optional mezzanine offering additional square footage, bright unit with windows and two skylights, fully sprinklered and Wi-Fi ready. Single-phase electrical with excellent parking facilities.

• 320 Okanagan Avenue, Penticton - 1,500 SF main floor, mezzanine available, M1 zoning, built 2022, sold for $585,000 on January 6, 2023, $390/SF. Premium concrete tilt-up construction with 24-foot ceilings, optional mezzanine for additional space. Bright unit with windows and two skylights, fully sprinklered and Wi-Fi ready. Single-phase electrical, no restrictions on use, central location with 24/7 access and excellent parking.

• 320 Okanagan Avenue, Penticton - 1,500 SF main floor, mezzanine available, M1 zoning, built 2022, sold for $600,000 on February 3, 2023, $400/SF. High-quality concrete tilt-up building with 24-foot ceilings. Features optional mezzanine providing additional square footage suitable for office or entertaining space. Bright unit with windows and two skylights, fully sprinklered and Wi-Fi ready. Single-phase electrical with central location and excellent parking.

• 320 Okanagan Avenue, Penticton - 1,500 SF main floor, mezzanine available, M1 zoning, built 2022, sold for $615,000 on December 5, 2022, $410/SF. Premium concrete fully insulated tilt-up building with 24-foot ceilings. Optional mezzanine offering additional square footage at front or rear. Bright unit with windows and two skylights, fully sprinklered and Wi-Fi ready. Single-phase electrical, no restrictions, central location with 24/7 access.

• 320 Okanagan Avenue, Penticton - 1,500 SF main floor, 485 SF front mezzanine, M1 zoning, built 2022, sold for $644,000 on March 16, 2024, $429/SF. Premium custom-built concrete fully insulated tilt-up building with exceptional 24-foot ceilings. Features built-out 485 SF front mezzanine ideal for office or entertaining area. Bright unit with windows and two skylights, fully sprinklered and Wi-Fi ready. Superior construction quality with excellent parking and central location.

Sale Price vs. Asking Price Analysis

The relationship between asking prices and actual sale prices provides important insight into market dynamics and buyer leverage. Analysis of recent transactions reveals a market where negotiation remains possible, but the degree of discount varies significantly.

Sale-to-List Price Ratios:

The properties sold for an average of 95.6% of their original asking price, ranging from 73.3% to 100.0%. This 26.7 percentage point spread reflects dramatically different market conditions and seller motivations across the sample period. Most Properties Sold Between 95-99% of Ask. This clustering suggests a relatively balanced market where sellers maintained reasonable expectations and buyers had limited leverage for substantial price reductions.

Market Implications:

The relatively tight sale-to-list ratios (excluding the outliers) suggest sellers have been pricing properties reasonably close to market value, with most buyers achieving 2-5% discounts through negotiation.

Days on Market Analysis

Marketing time provides critical insight into buyer demand, pricing accuracy, and market momentum. Analysis of comparable sales reveals significant variation in absorption rates, ranging from 29 to 200 days on market, with an average of 114 days.

Temporal Trends:

Late 2022 - Early 2023: Average 149 days (high interest rate impact)
Mid-Late 2023: Average 68 days (market stabilization)
2024-2025: Average 74 days (mixed conditions with faster sales for value-priced units)

Key Insights:

The data reveals that pricing strategy dramatically impacts absorption time. Premium-positioned properties required 3-7x longer to sell than competitively-priced units, even when offering superior construction quality. Market conditions in late 2022 through early 2023 created the longest marketing periods, while value-oriented new construction in 2024-2025 achieved the fastest sales despite broader market headwinds.

Sellers pricing at market expectations achieved sales within 30-70 days, while premium pricing or inflated asking prices extended marketing periods to 4-7 months regardless of property quality.

Conclusion: Expert Commercial Appraisal Services in Penticton

Penticton's strata warehouse market presents a complex landscape where construction quality, timing, and pricing strategy can mean the difference between a swift sale at full asking price and months on market with significant price reductions. As this analysis demonstrates, understanding local market dynamics—from the premium commanded by concrete tilt-up construction to the 114-day average absorption rate—is essential for making informed real estate decisions.

Get Your Professional Commercial Appraisal Today

RDOS Appraisals & Consulting delivers comprehensive commercial property valuations backed by extensive local market knowledge, detailed comparable sales analysis, and professional credentials recognized by lenders, courts, and commercial real estate professionals throughout British Columbia.

Contact us today for expert commercial real estate appraisal services in Penticton and the South Okanagan:

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Serving Penticton, Summerland, Oliver, Osoyoos, Okanagan Falls, Princeton, Keremeos and Naramata with professional commercial real estate appraisal services. Specializing in industrial properties, strata warehouses, retail centers, office buildings, investment properties, and multi-family complexes.