Overview

This lot in Cobourg is for sale. It has been on the market 13 days, fresher than the Cobourg average of 80 days.

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Description

A marquee development opportunity in Cobourg at 550 King Street East -- a landmark location offering 4 acres of potential and endless possibilities. Introducing a rare opportunity to acquire one of Cobourg's most prominent east-end properties. Strategically positioned with approximately 400 feet of frontage on the sunny side of King Street East, #550 is a true gateway property, capturing attention as you enter town. With its high-profile location, substantial landholding and development zoning, this exceptional 4 acre parcel presents an exciting opportunity for visionary builders, savvy investors and developers looking to secure a significant presence in a growing community. Offering municipal water, sewer, natural gas and featuring two entrances directly off King Street East, this property provides a compelling foundation for future development. Surrounded by new and established residential neighbourhoods along with new build commercial amenities, the location places future possibilities within a community experiencing continued growth and transformation. Opportunities of this scale and visibility are rarely available in such a strategic location. Whether you are an established developer expanding your portfolio or a builder seeking your next significant project, 550 King Street East offers the chance to envision what comes next in one of Cobourg's most recognizable locations. Property is being offered primarily for its land value and future development potential. The existing dwelling and outbuildings are not available for showings. (id:66096)

Property Details

MLS®: X14105746
Property Type: Vacant Land
Business Type: Residential
Zoning: RES/DEVELOPMENT
Lot Size: 4.11 acres
Frontage: 399 ft
Price per Acre: $1,034,061 per acre
Property Tax: $5,907.06/yr
Listed: 13 days ago

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

13d

Cobourg listings, avg age

80d

List price

$4.25M

Homes here sell close to asking price

Homes in this market sold for an average of 97.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This vacant land in Cobourg has been listed for 13 days, which is 67 days fresher than the city average of 80. Act while there is still low competition.

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Listed by Re/Max Impact Realty · Dianna Mandzuk

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K9A)

This home lists at $4,250,000, about 51.8× the local median household income of $82,000.

Carrying it typically needs a household income of about $830,174 (20% down, 25-yr amortization, stress-tested) — roughly 912% above the area median.

Median household income: $82,000
Population: 26,757
Median age: 53.2
Owner / renter: 74% / 26%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA K9A)

$4,250,000

For sale

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Financing

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550 King Street East, Cobourg - Vacant Land for Sale