Huge price reduction - priced to move! Fantastic construction-ready residential conversion! Permits are complete and set to be issued pending payment of DCs and Parkland fees! If you're looking for a profitable redevelopment project that is truly hammer-ready, this is it. Plans include retaining main floor commercial while developing 8 new residential units (5 X 2-bed, 3 X 1-bed). Take it a step further by dividing the main floor into smaller units for a higher PSF lease value. Situated steps from a future LRT station, this building has significant cashflow and appreciation value. If development isn't your thing, the existing structure is ready to lease in its current state as offices, retail, hospitality, etc. thanks to generous D2 zoning! Tremendous potential for investors, end-users, and developers alike. Clean Phase 1 Environmental on-hand. Plans, proforma, and additional information available upon request. This amount of usable square footage is incredibly rare on the LRT route. Don't miss this remarkable opportunity! (id:47421)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Lot
40 x 103 ft
Amenities Nearby
Public Transit
Community Features
High Traffic Area
Features
Southern exposure, Visual exposure
Listing Contract Date
2024-10-09
Location Description
Immediately east of Wellington Street North on the north side of King Street East
Ownership Type
Freehold
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
D2 - Downtown Mixed Use - Pedestrian Focus
Building
Basement Type
None
Utility Water
Municipal water
Land
Total Size
under 1/2 acre
Amenities
Public Transit
Sewer
Sanitary sewer
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