$750,000
South Bruce Peninsula
16 Spencer Street, South Bruce Peninsula, Ontario, N0H1P0
This retail property in South Bruce Peninsula is for sale offering roughly 19,687 sq ft of space. It has been on the market 63 days, fresher than the South Bruce Peninsula average of 103 days.
Exceptional redevelopment and investment opportunity with prominent Highway 6 exposure in Hepworth, within the Town of South Bruce Peninsula. Strategically located commercial property offering existing utility together with significant future redevelopment potential. The property was historically operated as a gas station, with the former underground tanks reportedly removed decades ago. An existing garage building remains on the property and may continue to be utilized while a purchaser pursues future redevelopment and the required approvals. Preliminary planning and redevelopment work has been undertaken for a proposed commercial redevelopment, including concepts for a new gas station and convenience retail use. The property has also been the subject of pre-consultation with the Town of South Bruce Peninsula and the Ministry of Transportation, providing valuable information regarding requirements and considerations for future development. An excellent opportunity for investors, developers, fuel retailers, convenience-store operators, automotive businesses or purchasers seeking a highly visible commercial property with long-term upside. Continue utilizing the existing building while advancing redevelopment plans, providing flexibility and the potential to phase investment. Purchaser to complete their own due diligence regarding zoning, permitted uses, environmental matters, development potential and all required approvals. Preliminary concepts and pre-consultation information may be available to qualified purchasers.Vendor Take-Back (VTB) financing may be available to qualified purchasers, subject to acceptable terms and conditions.Rare opportunity to acquire a strategically located property with an existing usable building, Highway 6 exposure and significant redevelopment potential. (id:66096)
Long Listed: 63 days on market, against an average age of 103 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.
Homes here sell below asking price
Homes in this market sold for an average of 94.4 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.
This retail in South Bruce Peninsula has been listed for 63 days, which is 40 days fresher than the city average of 103. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $750,000, about 8.7× the local median household income of $86,000.
Carrying it typically needs a household income of about $146,501 (20% down, 25-yr amortization, stress-tested) — roughly 70% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0H)
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