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$4,990,000
Est. payment /mo
1 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 1 sqft
Price per Sqft $4,990,000
Subdivision 220 - Oldfield
MLS Listing ID X12229403
Annual Tax Amount $20,340
Tax Year 2024
Property Sub-Type Investment
Lot Depth 188.95
Lot Front 205.81
Property Description
Power of Sale opportunity in the heart of Niagara Falls vibrant tourist district. This high-profile 1.5-acre corner property offers exceptional redevelopment potential with Tourist Commercial zoning allowing for a range of uses including hotel, residential, mixed-use, and retail. The site consists of a vacant two-storey, 23-room motel and an adjacent vacant parcel, providing a generous footprint for future development. Conceptual plans propose a 22-storey mixed-use tower featuring approximately 245 residential units above a commercial podium, aligning with the Cities vision for intensification in this prime area. The property is situated at the busy intersection of McLeod Road and Stanley Avenue, just minutes from major attractions such as, Fallsview Casino, Horseshoe Falls, and Clifton Hill, with excellent access to the QEW highway, GO Transit, and the U.S. border via the Rainbow Bridge.. This is a rare chance to secure a significant redevelopment site in one of Canadas most visited tourist destinations, available under Power of Sale.
Location
Province ON
County Niagara
Community 220 - Oldfield
Area Niagara
Zoning Tourist Commercial
Interior
Cooling No
Exterior
Utilities Available None
Lot Frontage 205.81
Lot Depth 188.95
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Listed by VANGUARD REALTY BROKERAGE CORP.