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Active
589 Ontario ST St. Catharines, ON L2N 4N9
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Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision 438 - Port Dalhousie
MLS Listing ID X13497676
Annual Tax Amount $26,246
Tax Year 2025
Property Sub-Type Land
Property Description
Rare opportunity to acquire a 21-unit multifamily investment in St. Catharines' desirable north end with exceptional income today and significant redevelopment potential for tomorrow. With 6 lots providing frontage on both Ontario Street and Embassy Avenue, the property currently generates a 6.1% cap rate, with a clear path to approximately 8% cap rate through lease-up and rental optimization. The site has been the subject of a pre-consultation process with the City, identifying future redevelopment potential (buyer to complete their own due diligence). Investors benefit from strong in-place cash flow while pursuing future planning approvals, creating a unique opportunity to generate income during the entitlement process. Whether you're seeking a stable long-term hold, a value-add apartment investment, or a strategic land assembly with development upside, this offering presents exceptional flexibility in a prime location.
Location
Province ON
County Niagara
Area Niagara
Zoning R2, C2
Interior
Inclusions Refrigerator, Stove, Washer, Dryer, ELF's
Exterior
Community Features Major Highway
Utilities Available Available
Lot Frontage 121.26
Lot Depth 174.74
Others
ParcelsYN No
Listed by ROYAL LEPAGE NRC REALTY COMPASS ESTATES