$3,999,000
FOR SALE

Investment

Lot: 928.64 x 5,008 ft
2024 Taxes: $29,957

191-221 Pennie Ave
Tehkummah, ON P0P 2C0 | Manitoulin

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.
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Listed By Sotheby's International Realty Canada
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X12388969
Last Updated Mar 16, 2026
Property Summary
Property Type Investment

More like this:
PIN 471300034
Legal Description PCL 2386 SEC MANITOULIN; LT 30 CON 8 TEHKUMMAH EXCEPT PT 1 TO 5 31R2810, PT 1 31R3065 S/T PT 2 31R3065 AS IN LT8927 TOWNSHIP OF TEHKUMMAH
Taxes (2024) $29,957
Directions/Cross Streets Hwys 6/542
Area Manitoulin
Price History

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Detailed Information
Freestanding Y
Bedrooms 3
Bathrooms 7
Lot 928.64 x 5,008 ft
Air Conditioning No
Basement Basement
Garage Type Double Detached
Parking Spaces 10
Heat Type Radiant
Sewers Septic
Water Drilled Well

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