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Parry Sound, ON P2A 3B9,N/A Louisa ST W
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Parry Sound, ON P2A 3B9,N/A Louisa ST W
Parry Sound, ON P2A 3B9,N/A Louisa ST W
Parry Sound, ON P2A 3B9,N/A Louisa ST W
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Jethro Seymour

Jethro Seymour

+1(416) 712-0767
$ 3,675,000
Est. payment /mo
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N/A Louisa ST W Parry Sound, ON P2A 3B9

8 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Land

Listing Status Active

Purchase Type For Sale

Square Footage 8 sqft

Price per Sqft $459,375

Subdivision Parry Sound

MLS Listing ID X12313021

Annual Tax Amount $1,069

Tax Year 2024

Property Sub-Type Land

Lot Depth 635.0

Lot Front 600.0

Property Description

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.

Location

Province ON

County Parry Sound

Community Parry Sound

Area Parry Sound

Interior

Cooling No

Exterior

Community Features Major Highway

Utilities Available None

Lot Frontage 600.0

Lot Depth 635.0

Others

Security Features No

Listed by LEE & ASSOCIATES COMMERCIAL REAL ESTATE INC.
Jethro Seymour

Jethro Seymour

Broker

+1(416) 712-0767

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N/A Louisa ST W

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