1043 RIDGE Road North, Fort Erie (Ridgeway), Ontario, L0S1N0
$998,888
Fort Erie
This 3-bedroom, 1-bathroom home in Fort Erie is for sale. It has been on the market 101 days, fresher than the Fort Erie average of 110 days.
Prime 6.25-Acre Mixed-Use Development Opportunity in the Heart of Ridgeway!ATTENTION DEVELOPERS, INVESTORS & END USERS! Rare opportunity to acquire a high-visibility corner property located in a new and rapidly developing area of the Niagara South Peninsula. This exceptional parcel offers approximately 6.25 acres of prime land with multiple zoning designations, includingCommercial and Agricultural, providing excellent potential for a variety of future uses (buyer to verify permitted uses and zoning requirements).The property features outstanding exposure with approximately 379 feet x 418 feet frontage alongGarrison Road (Highway 3) and approximately 352 feet x 675 feet frontage along Ridge Road North, offering multiple access points and excellent visibility in a high-traffic location.The site presents exciting possibilities for future development, including potential for retail plazas, professional/medical offices, restaurants, service commercial uses, and other mixed-use opportunities, subject to municipal approvals and buyer due diligence. Located in a desirable Ridgeway community where new development is actively taking place and established amenities continue to grow.Approximately 2 acres are cleared and improved with a recently updated 1.5-storey detached home serviced by municipal water and septic. The home currently generates rental income of $1,700/month plus utilities with a good tenant on a month-to-month basis who may consider staying.Ideally located within walking distance to Lake Erie and offering convenient access to Highway 3/GarrisonRoad, this property represents a rare investment opportunity with endless possibilities for the discerning buyer. Buyer to verify all permitted uses, development potential, conservation restrictions, and municipal requirements. (id:66096)
Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.
Features and services as supplied by the listing brokerage.
Long Listed: 101 days on market, against an average age of 110 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.
This 3-bed single family in Fort Erie (Ridgeway) has been listed for 101 days, which is 9 days fresher than the city average of 110. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $998,888, about 10.5× the local median household income of $95,000.
Carrying it typically needs a household income of about $195,118 (20% down, 25-yr amortization, stress-tested) — roughly 105% above the area median.
Source: Statistics Canada, 2021 Census (FSA L0S)
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Loading rates, 30-yr amortization
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