$3,999,000
FOR SALE

Business for Sale

Lot: 928.58 x 5,008 ft

191-221 Pennie Avenue
Tehkummah, ON P0P 2C0

Introducing The Estate on Michaels Bay, a rare 116-acre waterfront property on Manitoulin Island offering unmatched commercial potential. With 928 feet of shoreline on Lake Huron, this estate features a 9,000 sq ft log lodge, 3,000 sq ft guest house, 3,600 sq ft heated workshop, private lake, and a 2,500 ft air strip allowing direct access from Toronto in just 85 minutes by private plane. There is also a commercial airport with a 3,500 ft runway capable of handling executive jets just 40 minutes away from the property. The MS Chi-Cheemaun ferry from Tobermory to Manitoulin Island is 20 minutes away. Previously operated as a restaurant, the property is primed for revival as a destination dining venue or luxury hospitality experience. Its layout and amenities make it ideal for a corporate retreat, wellness resort, or boutique lodge. Development for a golf course was initiated, with fairways already cleared offering a head start for investors looking to complete and brand a signature course. The main residence boasts vaulted ceilings, radiant in-floor heating, a dramatic 4-sided stone fireplace, luxury kitchen, spa-like primary suite, and expansive entertainment spaces. The guest house includes 4 bedrooms and 2.5 baths, while the workshop offers oversized garage doors, EV charging, and an unfinished apartment. Backing onto 500+ acres of protected conservation land with hiking trails, this gated estate blends privacy, adventure, and upscale infrastructure. Whether reimagined as a resort, executive retreat, or legacy investment, this property delivers a once-in-a-lifetime opportunity to shape a premier destination in Northern Ontario. Manitoulin Island is the Largest Fresh Water Island in the World with stunning natural beauty, including beautiful waterfalls, sandy beaches, and numerous lakes and trails. It's a popular destination for camping, hiking, and stargazing, offering a tranquil escape into nature. The island is easily accessible by vehicle, airplane and boat. (id:47421)
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Listed By Sotheby's International Realty Canada
Data Provided By OnePoint Association of REALTORS®
MLS® Listing Number X12388969
Last Updated Mar 16, 2026
Property Summary
Property Type Business For Sale

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Franchise Non-Franchise
Price History

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Detailed Information
Bedrooms 3
Bathrooms 7
Lot 928.58 x 5,008 ft
Equipment Propane Tank
Farm Type Other
Features Conservation/green belt
Listing Contract Date 2025-09-08
Location Description Cross Streets: Hwys 6/542. ** Directions: From South Baymouth take Hwy 6 north to Side Rd 10 to 6 Concession Rd to right turn onto Side Road 15 to left onto Government Rd to Michaels Bay Rd and continue onto Pennie Ave. to 191.
# of Parking Spaces 10
Property Type Business
Rental Equipment Propane Tank
Transaction Type For sale
Zoning Description RU
Building
Age 16 to 30 years
Appliances All
Cooling Type None
Heating Type Radiant heat
Utility Water Drilled Well
Land
Total Size 116.8 acres
Acreage Yes
Sewer Septic System
Size of Irregular Land 116.8
External Links

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