670 Lakeshore Drive, North Bay (Ferris) - Vacant Land for Sale

670 Lakeshore Drive, North Bay (Ferris), Ontario, P1A2G2

100 parking3.30 acres lotListed 2 days ago

Overview

This lot in North Bay is for sale. It has been on the market 2 days, fresher than the North Bay average of 52 days.

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Description

Exceptional development opportunity in the sought-after West Ferris corridor of North Bay. Positioned just off Lakeshore Drive, this commercially zoned vacant land parcel with a unique bachelor cabin structure with hydro brought in, offers outstanding exposure and natural surroundings, abutting Jessup's Creek and directly across from Lake Nipissing. Zoned C7 - Tourist Commercial, this property presents a rare opportunity for investors and developers seeking to capitalize on North Bay's growing tourism, hospitality, and waterfront-oriented commercial market. The zoning also permits a wide range of other potential uses, making it well suited for future development opportunities such as boutique accommodations, hospitality ventures, destination retail, restaurant concepts, recreational commercial uses, or mixed commercial projects such as a storage facility (subject to municipal approvals and project plans). (id:66096)

Property Details

MLS®: X14144396
Property Type: Vacant Land
Zoning: C7RHO
Parking: 100
Lot Size: 3.30 acres
Frontage: 33 ft
Price per Acre: $106,030 per acre
Heating: No heat
Property Tax: $499.37/yr
Listed: 2 days ago

Features

Lot Features: Irregular lot size

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

North Bay (Ferris) listings, avg age

52d

List price

$350K

Homes here sell faster than most markets

Sold homes in this market spent an average of 27 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 98.6 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 North Bay (Ferris) has been listed for 2 days, which is 50 days fresher than the city average of 52. Act while there is still low competition.

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Listed by Revel Realty Inc. Brokerage · JESSICA DIGGLES

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P1A)

This home lists at $349,900, about 4.7× the local median household income of $74,000.

Carrying it typically needs a household income of about $68,348 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $74,000
Population: 16,959
Median age: 44.8
Owner / renter: 61% / 39%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P1A)

$349,900

For sale

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Financing

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