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$ 1,299,000
Est. payment | /mo
1,500 SqFt
$ 1,299,000
Est. payment | /mo
1,500 SqFt
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 1,500 sqft
Price per Sqft $866
Subdivision Penetanguishene
MLS Listing ID S13029528
Annual Tax Amount $3,802
Tax Year 2025
Property Sub-Type Land
Property Description
A rare strategic acquisition for the savvy developer or land-banker! This massive 4.468-acre infill parcel is situated in the heart of Penetanguishene, surrounded by established residential neighborhoods. Uniquely positioned to offer suplimental cash flow, the property features a standalone 3 bedroom residence currently generating $2,360 per month in rental income-providing an excellent carry while you navigate the planning process.Currently zoned R1 and Deferred Development (D), these retained lands represent one of the last significant intensification opportunities within the Primary Settlement Area. With municipal services at the lot line and close proximity to the waterfront and downtown core, the potential for a multi-lot severance or residential project is immense (subject to Town approval). Secure a holding property today and build for tomorrow. Additionally, there is an unopened municipally owned road allowance bordering the west edge of the property. Seller has completed the following work related to the development of the property:-Initial planning consultation (May 2022)-Stage 1&2 Archaeological Assessment (December 2022)-Preliminary Site Plan (August 2023)-Environmental Impact Study (August 2023). Buyer to conduct their own due diligence regarding rezoning and future use.
Location
Province ON
County Simcoe
Area Simcoe
Exterior
Utilities Available Yes
Lot Frontage 325.38
Lot Depth 628.0
Others
ParcelsYN No
Listed by KAIZEN CAPITAL REALTY PARTNERS
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