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$ 4,950,000
Est. payment | /mo
6 SqFt
$ 4,950,000
Est. payment | /mo
6 SqFt
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 6 sqft
Price per Sqft $825,000
Subdivision 65 - Town Of Mitchell
MLS Listing ID X11959712
Annual Tax Amount $1,600
Tax Year 2024
Property Sub-Type Land
Property Description
Located in the heart of Mitchell, Ontario, this exceptional 6.04-acre parcel of vacant residential land presents a prime development opportunity. Currently zoned R3, the property allows for single-detached and semi-detached homes. However, the Sellers are actively pursuing R4 zoning approval, anticipated for Q2Q3 of 2025, which would enable mid-density development. Preliminary conceptual plans, reviewed by the municipality, propose up to 216 stacked townhome units on the site. The prospective R4 zoning will further expand development possibilities to include apartment and condominium buildings (up to four stories), townhomes, stacked townhomes, nursing homes, and retirement residences, among other permitted uses. **INTERBOARD LISTING: CORNERSTONE - WATERLOO REGION**
Location
Province ON
County Perth
Community 65 - Town Of Mitchell
Area Perth
Zoning R3
Exterior
Utilities Available None
Lot Frontage 343.91
Lot Depth 472.18
Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES