Homes for sale - 385 & 387 West ST N, Orillia, ON L3V 5E7

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Mike Taylor

mike@ninemilerealty.ca +1(705) 985-1110

$ 1,499,000

Est. payment | -/mo

5 Beds

2,700 SqFt

Save

$ 1,499,000

Est. payment | -/mo

Save

5 Beds

2,700 SqFt

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

Listed by ROYAL LEPAGE IGNITE REALTY

We know the real estate landscape, the best neighbourhoods, and how to build the best relationships. We’re committed to delivering exceptional service based on years of industry expertise and the heartfelt desire to get it right.

+1(705) 985-1110

mike@ninemilerealty.ca

183 Bayfield St, Barrie, ON, L4M 3B4, CAN

385 & 387 West ST N Orillia, ON L3V 5E7