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$ 1,290,000
Est. payment | /mo
$ 1,290,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID X10442803
Annual Tax Amount $3,324
Tax Year 2024
Property Description
Motivated seller. REDEVELOPMENT site. Existing district commercial zoning permits residential uses above commercial provided less than 50% of the total gross floor area of a building (max height 3 storey). UPSIDE POTENTIAL: To accommodate Hamilton's forecasted growth part of the City's plan is 'Up Zoning of Urban Corridors and major and minor arterial roads to the missing middle which is considered 12 storeys or less. Subject property is on a major arterial road, adjacent to retail amenities, and residential only on 1-side, is an ideal candidate for 'Up Zoning. Formal consultation comments back from the City encouraged a 6-storey, pedestrian focused development. Existing house on the property can be rented out for residential/retail/office for holding income and land held for future bump that comes with residential intensification.
Location
Province ON
County Hamilton
Community Binbrook
Area Hamilton
Zoning C6 E:337 E:570
Region Binbrook
City Region Binbrook
Interior
Cooling Yes
Exterior
Utilities Available Yes
Others
Security Features No
Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP
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