A pic from outside/outdoor area/front of a property/back of a property/a pic from drone, building for BLOCK 25 N/A, Mitchell Ontario N0K 1N0
52 days on Market

BLOCK 25 N/A, Mitchell, Ontario N0K 1N0

Detached
-
-
- sqft
$4,950,000
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Detached
-
-
- sqft

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Highlights

Estimated ValueNot available

Price/Sqft-

Est. Mortgage$21,258/mo

Tax Amount (2024)$1,600/yr

Days On Market52 days


Description

Located in 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 Q2-Q3 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. To accommodate diverse development strategies, the Sellers are open to holding financing contingent on the strength and background of the purchaser.


Property Details

StyleLand
View-
Age of property-
SqFt-
Lot Size-
Parking Spaces-
MLS ®Number40695724
Community NameWest Perth
Data SourceITSO
Listing byAVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP

Features

Sewer (Municipal)

Property History

Feb 3, 2025
ListedActive
$4,950,000
52 days on market
history photo preview2
Listing by itso®
Property listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP, Brokerage
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Population and Demographics

Overview

Total population 8978
Average household income $119,636

Age (%)

0 to 19
26%
50 to 64
21%
65 and plus
19%
20 to 34
18%
35 to 49
17%

Household composition (%)

Single family
73%
Single person
24%
Multi person
2%
Multi family
0%

Mother tongue (%)

English
96%
Dutch
1%
Others
1%
German
1%

House tenancy (%)

Owners
79%
Renters
21%

Schools and amenities

Estimated Budget