1 George Street N Smith Falls, Ontario K7A 1X8

$1,200,000

Exceptional Development Opportunity - a prime 5-Lot Package with a zoning amendment application already completed and approved for the construction of 36 residential and 2 commercial units! Plans for the proposed development are available, offering detailed insights into the potential of this fantastic site. The existing structures are ready to be demolished. Permits have been obtained by the sellers and all utilities have been disconnected, allowing for a seamless transition to your project. With cap rates that are projected to be 6% +, this project promises lucrative returns for savvy investors. To add the cherry on top, Smiths Falls offers a property tax incentive for developers which can be applied for up to 10 years, making this a highly attractive investment opportunity. The package includes five separate lots, only available for purchase together, providing the perfect canvas for your next residential and commercial project. Situated in the heart of Smiths Falls, this land offers close proximity to Ottawa, making it an ideal location for future residents and businesses. This is an exceptional opportunity for developers to create a highly sought-after mixed-use development in a prime location with guaranteed demand. Whether you're looking to create modern residential spaces or commercial units that serve the growing community, this is a rare and valuable offering in a rapidly developing area. Don't miss your chance to be part of Smiths Falls exciting future. Contact us today for more information or to arrange a viewing. (id:43934)

Business

Business Type	Residential
Business Sub Type	Residential

Property Details

MLS® Number	X11984382
Property Type	Vacant Land
Community Name	901 - Smiths Falls
Features	Irregular Lot Size

Building

Size Interior	19,924 Ft2
Utility Water	Municipal Water

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	35 Ft
Size Frontage	54 Ft
Size Irregular	54 X 35 Ft
Size Total Text	54 X 35 Ft
Zoning Description	Rm

https://www.realtor.ca/real-estate/27943345/1-george-street-n-smith-falls-901-smiths-falls