$ 6,975,000
5544 Mcleod RD Niagara Falls, ON L2G 3E3
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$ 6,975,000
Est. payment | /mo
9,075 SqFt
$ 6,975,000
Est. payment | /mo
9,075 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 9,075 sqft
Price per Sqft $768
MLS Listing ID X8060196
Annual Tax Amount $42,285
Tax Year 2023
Property Description
Harvey Kalles Real Estate Ltd., Brokerage & High Point Realty Limited are pleased to present a prominent gateway motel property with future mid-to-high density residential development potential. Located in the Tourist Core of Niagara Falls at the corner of Stanley Ave & McLeod Rd, between Marineland and the hotel-entertainment core, the existing non-operating 2 storey motel, in need of rejuvenation, contains 23 motel units and has a 3-bedroom office/residence. In-place zoning permits a range of Tourist Commercial Uses. A mixed-use development concept by Zeidler Partnership Architects for 245 res units/22 floors with podium retail commercial has been presented to the City. The site provides a unique opportunity to pursue a mid-rise or high-rise rezoning for greater heights or to restore/expand the existing model. As is where is sale. Parcels can be purchased separately (Motel Parcel: $4,975,000 / Vacant Land Parcel: $2,000,000) conditional upon Muncipal Technical Severance Consent. Property being sold in an As is Where Is Condition.
Location
Province ON
County Niagara
Community Public Transit
Interior
Heating Yes
Cooling No
Exterior
Garage Spaces 23.0
Community Features Public Transit
Utilities Available Yes
Building
Lot Description Irregular Lot
Others
Security Features No
Listed by HARVEY KALLES REAL ESTATE LTD.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "