Revenue Property For Sale in Penetanguishene, ON
59 Main Street$1,050,000
This seller is willing to negotiate commission with any real estate agent who brings an acceptable offer from a qualified buyer.
Former Hotel/Apt Bldg
Former 30 room hotel/Apartment Bldg and restaurant ready for re-building for estimated 700k-900k to make a "gold mine" in addition to the sale price.
Cash price $ 1,050,000 for the building
This existing 3 story empty building, approximately 20,000 ft²f above grade with basement, unoccupied old hotel empty building planned to be renovated into high end boutique style Parisian hotel. Land Size 90.03 ft x 160 ft . There is a space of 4,000 square feet for restaurant on the main floor, bar/lounge on the 1st floor and basement perfect for a banquet hall and outdoor patio. Also, by adding additional floors with lake view it could become a “gold mine” for investors perfect for development of apartments or condominiums. My original architectural design can be changed by adding additional top floor terrace making it a spectacular revenue generator.
The town is bilingual, speaking both English and French, just 90 minutes from Toronto by HWY 400. This picturesque location is at the southern tip of beautiful Georgian Bay is a playground for boating, winter skiing in nearby Collingwood, beautiful beaches, horseback riding and forest.
Huge boating traffic, small Airport, famous historical sites and famous theatre, world renowned medical facility with many international visiting doctors, Shrine ( Visited by the Pope) with more than 150,000 pilgrims and tourists visiting each year.
The town has neither hotels nor fine dining restaurants currently in huge demand from many high net worth individuals owning properties in the area. There is a need for accommodation gourmet high end restaurant or retirement living. The view of the lake from this property has truly exceptional appeal.
This property comes with:
It comes with architectural plans and PlanIT drawings It can have additional floors added for up to height is 13.5, Interior demolition/reno permit, 50+ new windows stock on site, New temp Electric panel, Surveillance cameras installed outside the building and computer surveillance system. Upgraded WATER INSTALLATION INCREASED WATER SERVICE FROM 25MM TO 38MM
Call Danielle Doironon MLS or call 705 528 3133
Approximate Map Location*
59 Main Street, Penetanguishene, Ontario, Canada
* Each seller is responsible for ensuring that their map location is accurate. Please contact the seller directly if you have any questions.This property for sale has been tagged by the seller as close to Barrie, Honey Harbour, Horseshoe Valley, Wasaga Beach, Ontario.
Location - Click to Expand
- Address: 59 Main Street
- City: Penetanguishene
- Province/State: Ontario
- Postal/Zip Code: Unspecified
- Country: Canada
- Property Type: Revenue Property
- Ad Type: For Sale
- Ownership: Freehold/Fee Simple
- Listing ID: 534385
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