385 & 387 West ST N new Save Request In-Person Tour Request Virtual Tour
Orillia,ON L3V 5E7
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2,700 sqft
Price per Sqft $555
Subdivision Orillia
MLS Listing ID S12479016
Bedrooms 5
Annual Tax Amount $9,675
Tax Year 2025
Property Sub-Type Investment
Property Description
Excellent Investment Opportunity! 387 West St N is being sold together with 385 West St N - both properties must be purchased as a package. 385 West St N features 3 fully rented units. 387 West St N features 5 fully rented units. All tenants on month-to-month terms paying market-value rents. Together, these properties offer a strong, stable income stream and great future development potential. Positive cashflow!! While you get your development plan ready you will also generate a positive cashflow!! Intensification Area Land! Fabulous Investment Opportunity! City of Orillia Official Plan has been consolidated on June 2nd, 2025. All tenants willing to stay. Great Property Manager who takes care of all aspects of the property. Handsfree investment opportunity. The property offer a 190' Frontage By 257' depth (1.12 acres) suitable for redevelopment. The site is located within Orillia's "Intensification Area" designation - a zoning context aimed at supporting higher-density, mixed-use development. Under the City of Orillia Official Plan consolidated on June 2nd, 2025 for the Intensification Area, permitted uses include: - Stand alone multiple unit residential buildings, including all forms of townhouses and apartment buildings - Mixed use buildings combining residential units with retail, service, or office uses - Tourist accommodations, live work units, communal housing (with ancillary services) - Home occupations, elementary & secondary schools, places of worship (Church etc.), child care facilities, stand alone retail/restaurant/office/service commercial uses - Additional dwellings in existing residential dwellings, parks & recreation facilities, and public & private utilities. A Minute Away From Hwy 11. The Convenience Of Shopping, Tim Horton's, Business Depot & Canadian Tire. Close by to Golf, Parks, Baseball diamond and play grounds. Less Than 2 km From Lakehead University. Close To Orillia Square Shopping Center. Right Beside Orchard Park Public School.
Location
Province ON
County Simcoe
Community Orillia
Area Simcoe
Rooms
Kitchen 5
Interior
Heating Yes
Cooling No
Heat Source Gas
Exterior
Community Features Major Highway,Public Transit
Utilities Available Yes
Lot Frontage 190.0
Lot Depth 257.9
Building
Building Age 51-99
Others
Security Features No
ParcelsYN No