At nearly 3 acres and located within Simcoe's Urban Development Boundary, 498 Norfolk Street South presents a rare opportunity for home owners, investors, and developers alike. With an existing duplex already in place, the property offers immediate rental income while supporting exceptional long-term upside. Potential to rezoning to R4 or R5 to accomodate townhomes, apartments, or other residential uses. The owner has completed a preliminary servicing memo in consulation with Vallee Consulting and Norfolk County Municipal services are available at the road, making the property well positioned for future infill development. Whether you are seeking a sizeable in-town estate property, an investment opportunity to land bank while generating income, or a redevelopment project with significant future potential, 498 Norfolk Street South is a property that warrants serious consideration.
Single-familyProperty Type
1.43 acresLot Size
3 spacesParking
Listed by STEPHEN MICHAEL SZUCS• SOTHEBY'S INTERNATIONAL REALTY CANADA
Development Opportunity! Approximately 3 Acres Inside The Urban Development Boundary. Municipal Utility Services Present At The Road. Upgrade Zoning To R4 Or R5 And Build Townhouses/Apartments/Other. Concept Design Included In Listing Package.
TREB #X6019208
Nov 1, 2024
Relisted
—
Aug 29, 2023
Pending
—
May 19, 2023
Listed
$1,950,000
TREB #X7398934
Jan 15, 2024
Listed
$1,950,000
As the MLS and public records start to fill up, we'll list the details here.