17 West Street S Orillia, Ontario L3V 5G2

$719,000

Rare opportunity to own an exceptional mixed-use investment property perfectly situated at the gateway intersection of Mississauga Street and West Street, right in the heart of downtown Orillia's bustling business district. Boasting a phenomenal 94 Walk Score, this versatile asset features a highly functional layout featuring prime street-level commercial space-ideal for retail, service, or office use-paired with distinct residential capacity on the upper level and large storage spaces across all three floors, including the basement. 17 West Street offers buyers immediate income as well as future upside potential. The asset perfectly suits three distinct buyer profiles: an income investor seeking cash flow in a rapidly expanding market, an owner-occupier looking to operate a storefront while collecting supplemental rent, or a forward-thinking stakeholder looking to position themselves for massive appreciation from future development. Strategically located within an official Strategic Growth Area, the property is poised to benefit entirely from the newly proposed Official Plan, which actively funnels high-density vertical intensification directly to this core transit and arterial corridor. Under the proposed plan, the site is slated for a high-density Downtown Transition/Mixed-Use designation, unlocking unprecedented long-term development potential. The proposed new zoning framework allows for vertical intensification of up to eight storeys for mixed-use residential and commercial builds. Positioned within easy walking distance of Lake Couchiching and major anchor redevelopments like Matchedash Lofts, and the Elgin Bay Club, 17 West Street South sits at the epicenter of a city projected to welcome 49,000 residents and 26,000 jobs by 2051. Capitalize on downtown Orillia's aggressive growth trajectory and secure a foundational piece of its changing skyline. (id:43681)

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https://www.realtor.ca/real-estate/30050039/17-west-street-s-orillia-orillia