53 Mercer Crescent, Penetanguishene - Vacant Land for Sale

53 Mercer Crescent, Penetanguishene, Ontario, L9M1R4

0 baths541 × 199 ft (2.47 acres) lotListed 96 days ago

Overview

This lot in Penetanguishene is for sale.

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Description

ATTENTION DEVELOPERS & BUILDERS: Prime 2.91-Acre In-Town Residential Development Opportunity!Here is a rare turnkey development opportunity situated directly beside an established, mature neighborhood in highly desirable Penetanguishene. This 2.91-acre parcel offers a low-risk, high-reward investment with extensive preliminary work already completed and ready for your vision. Land is high, dry, and beautifully treed with a healthy blend of mature coniferous and deciduous species, with select premium lots backing onto a picturesque, forested ravine.The site is designated Development, with municipal water, sewer, and natural gas services available directly adjacent. The Town of Penetanguishene maintains a detailed file on the property supported by extensive completed studies, significantly streamlining your planning process. Access is fully secured as the 1 ft reserve along Mercer Crescent has been removed and integrated into the dedicated street line.A preliminary sketch illustrates potential for 18 detached single-family home lots, though final density remains flexible and determined by your design, subject to Town Planning Department approval. This versatile site also presents an exceptional opportunity for a retirement residence development.Enjoy financial advantages with no HST applicable to the purchase. Situated in a prime, quiet in-town location close to local amenities and Georgian Bay shorelines, all less than a 2-hour drive from Toronto and the GTA. Call today for full details and the complete property file. (id:66096)

Property Details

MLS®: S13626266
Property Type: Vacant Land
Zoning: DD
Bathrooms: 0
Lot Size: 541 × 199 ft (2.47 acres)
Frontage: 541 ft
Listed: 96 days ago

Services

Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

96d

Penetanguishene listings, avg age

65d

List price

$1.60M

Haho

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Listed by Royal LePage In Touch Realty · FORREST WILLETT

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L9M)

This home lists at $1,599,900, about 21.1× the local median household income of $76,000.

Carrying it typically needs a household income of about $312,516 (20% down, 25-yr amortization, stress-tested) — roughly 311% above the area median.

Median household income: $76,000
Population: 16,607
Median age: 53.2
Owner / renter: 83% / 17%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L9M)

$1,599,900

For sale

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Financing

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