650 Main Street W Port Colborne, Ontario L3K 3X2

$1,899,990

1.5 ACRES OF PRIME DEVELOPMENT LAND WITH AN OPERATING 17-UNIT MOTEL ON MAIN ST W IN PORT COLBORNE! A RARE TWO-IN-ONE OPPORTUNITY: COLLECT INCOME TODAY AND HOLD AN APPROVED DEVELOPMENT SITE FOR TOMORROW. ZONING APPROVED AS MIXED USE (MU), PERMITTING A 6-STOREY BUILDING WITH 95 RESIDENTIAL UNITS, 326 SQ M OF GROUND-FLOOR COMMERCIAL SPACE AND 132 PARKING SPACES. SITE PLAN AND ENGINEERING DRAWINGS AVAILABLE. THE EXISTING 17-UNIT MOTEL OFFERS VALUE-ADD UPSIDE: RENOVATE THE ROOMS TO DRIVE RATES AND OCCUPANCY AND EARN CASH FLOW WHILE THE DEVELOPMENT WAITS UNDERNEATH, OR BUY IT AS A DEVELOPMENT SITE AND BREAK GROUND! APPROX. 360 FT OF FRONTAGE ON HIGH-EXPOSURE MAIN ST W, WITHIN PORT COLBORNE'S BUILT-UP AREA, MINUTES FROM THE DOWNTOWN CORE. 7 MINUTES TO NICKEL BEACH, THE WELLAND CANAL AND LAKE ERIE, AND APPROX. PORT COLBORNE IS ON THE RISE WITH THE $1.56B ASAHI KASEI EV BATTERY SEPARATOR PLANT, THE FIRST OF ITS KIND IN CANADA, EXPECTED TO BRING 300+ JOBS TO THE REGION AND NEW DEMAND FOR HOUSING AND ACCOMMODATION. WHETHER YOU ARE A DEVELOPER, A HOSPITALITY OPERATOR OR A LONG-TERM INVESTOR, THE POSSIBILITIES ARE ENDLESS! (id:55460)

Business

Business Type	Residential
Business Sub Type	Apartments
Name	Seaway Motel

Property Details

MLS® Number	X14172682
Property Type	Multi-family
Community Name	877 - Main Street
Amenities Near By	Highway, Public Transit
Features	Irregular Lot Size
Parking Space Total	130

Building

Age	51 To 99 Years
Cooling Type	Fully Air Conditioned
Heating Type	Forced Air
Size Interior	2 Acres
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	Yes
Land Amenities	Highway, Public Transit
Sewer	Sanitary Sewer
Size Depth	330 Ft ,1 In
Size Frontage	360 Ft ,9 In
Size Irregular	1.5
Size Total	1.5 Ac
Size Total Text	1.5 Ac
Zoning Description	Commercial-residential-development

https://www.realtor.ca/real-estate/30504613/650-main-street-w-port-colborne-main-street-877-main-street