$3,675,000
Available - For Sale
Listing ID: X12313021
N/A Louisa Stre West , Parry Sound, P2A 3B9, Parry Sound
| An outstanding investment opportunity awaits with this fully zoned 160-unit purpose-built rental apartment development site in the heart of Parry Sound. Located on Louisa Street, the property offers immediate scalability with an attractive community concept comprising five4-storey buildings totalling approximately 153,873 square feet of gross buildable area. Zoning is already in place, permitting 160 residential units. The site is CMHC Construction Loan Program (ACLP) ready, presenting an exceptional path to high-leverage construction financing of up to 100% loan-to-cost for Tier 1 qualified proposals. Projected gross rental income stands at approximately $4 million annually, with a stabilized net operating income of $2.5 million and an estimated capitalized value of approximately $50million at a 5% cap rate, comfortably supporting the estimated $40.6 million total development cost. This site is ideally positioned for experienced rental developers, REITs, institutional investors, and affordable housing funds seeking to capitalize on CMHC-backed financing, strong rental economics, and an expedited path to permit. Strategically located in one of Ontario's emerging rental markets, this is a rare opportunity to secure density, approvals, and financing readiness in one offering. Vendor may consider VTB financing. |
| Price | $3,675,000 |
| Taxes: | $1069.03 |
| Tax Type: | Annual |
| Occupancy: | Vacant |
| Address: | N/A Louisa Stre West , Parry Sound, P2A 3B9, Parry Sound |
| Postal Code: | P2A 3B9 |
| Province/State: | Parry Sound |
| Legal Description: | PT LT 6 W/S LOUISA ST, 7 W/S LOUISA ST, |
| Directions/Cross Streets: | Hwy 400 / Bowes St. /Louisa St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Designated |
| Use: | Residential |
| Total Area: | 8.53 |
| Total Area Code: | Acres |
| Area Influences: | Major Highway |
| Sprinklers: | No |
| Washrooms: | 0 |
| Rail: | N |
| Truck Level Shipping Doors #: | 0 |
| Double Man Shipping Doors #: | 0 |
| Drive-In Level Shipping Doors #: | 0 |
| Grade Level Shipping Doors #: | 0 |
| Heat Type: | None |
| Central Air Conditioning: | No |
| Sewers: | Sanitary+Storm |
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| LEE & ASSOCIATES COMMERCIAL REAL ESTATE INC. |
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Aneta Andrews
Broker
Dir:
416-576-5339
Bus:
905-278-3500
Fax:
1-888-407-8605
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At a Glance:
| Type: | Com - Land |
| Area: | Parry Sound |
| Municipality: | Parry Sound |
| Neighbourhood: | Parry Sound |
| Tax: | $1,069.03 |
| Fireplace: | N |
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