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$17,999,000
Est. payment /mo
59,379 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 59,379 sqft
Price per Sqft $303
Subdivision 456 - Oakdale
MLS Listing ID X12369475
Annual Tax Amount $258,446
Tax Year 2024
Property Sub-Type Investment
Property Description
This is a rare chance to acquire one of Niagaras most iconic and versatile income-producing properties. Steeped in history yet fully modernized, this stunning ~60,000 sq ft commercial complex offers a dynamic blend of revenue streams across hospitality, retail, professional offices, and event space. Anchored by a thriving boutique hotel and established hospitality venues, the property delivers stable, long-term tenancy and consistent returns.Set on nearly 4.5 acres at the high-traffic corner of Glendale Avenue and Merritt Street, the site impresses with over 300 parking spaces, manicured landscaping, and outstanding curb appeal. The buildings remarkable adaptive reuse showcases timeless architecture alongside exceptional functionality from hotel suites and a grand ballroom to restaurant, retail, and office uses. The result is a one-of-a-kind landmark commercial destination and a cornerstone investment.For those seeking growth, the property comes with site plan approval for a 5-storey, 170,000+ sq ft expansion, with infrastructure already in place to support the build-out on top of the existing structure to the north of the hotel. This presents extraordinary upside above the pro forma 6%+ cap rate, whether for a hands-on investor looking to add value or a portfolio owner seeking a flagship asset with future development capacity.The location is second to none in the heart of a thriving commercial corridor surrounded by RBC Royal Bank, Sobeys, Canadian Tire, The Keg, the LCBO, and more. Situated next door to the new Merritton Mills development, the site benefits from strong built-in demand and an expanding customer base. Only 500 metres to Highway 406 and minutes to the QEW and Highway 405, the property offers effortless connectivity across Niagara, Hamilton, and the Greater Toronto Area.This is a truly exceptional opportunity whether as a generational cornerstone for an active investor or as a marquee addition to an established portfolio.
Location
Province ON
County Niagara
Community 456 - Oakdale
Area Niagara
Interior
Cooling Yes
Exterior
Community Features Major Highway
Utilities Available Yes
Lot Frontage 440.26
Lot Depth 305.0
Others
Security Features Yes
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Listed by Corcoran Horizon Realty