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20000sqft
$1,280,000
59 Main St, Penetanguishene
25% less exp | 751
days ago
This is an exceptional opportunity for the large empty former hotel Commodore building on Main Street
This existing 3 story building, approximately 20,000 ft²f above grade with basement, unoccupied old hotel empty building planned to be renovated into high end boutique style Parisian hotel. There is a space for 4,000 square feet restaurant on the main floor, bar/lounge on the 1st floor and basement perfect for a banquet hall and outdoor patio. Also, by adding additional floors with lake view it could become a “gold mine” for investors perfect for development of luxury hotel or condominiums for both business and leisure travelers. My original design should change by adding additional top floor making it a spectacular revenue generator.
I have complete architectural drawings ( for my original concept before the market boom), engineering reports; have temporary electricity and new water pipes from town, original sprinkler system infrastructure plus about 70 new windows inventory ready to be installed. The architectural drawings need to be re-done to include the additional floor on the top to maximize the revenue.
The town is bilingual, speaking both English and French, just 90 minutes from Toronto by HWY 400, via Highway 93 and Highway 12, embracing recent “boom” of high net worth cottage buyers and 4 seasons. This picturesque location is at the southern tip of beautiful Georgian Bay is a playground for boating, winter skiing in nearby Collingwood, beautiful beaches, horseback riding and forest.
This is a world class tourist destinations for over hundreds high end vacation homes and cottages, 7 marinas and yacht centers offering generating huge boating traffic. The Huronia Airport, famous historical sites and, the Waypoint Centre for Mental Health Care, with many international visiting doctors, Martyrs Shrine ( Visited by the Pope) with more than 150,000 pilgrims and tourists visiting each year.
There is a huge need for accommodation, high end boutique hotel accommodation, condominiums, gourmet restaurant and retirement living. The view of the bay from this property will make any development have an exceptional appeal to developers.
This could be developed into condominiums, retirement condo, apartment building or a boutique hotel. It is located on Georgian Bay with lake view from the windows.
1. It comes with architectural plans and PlanIT drawings
2. It can have additional floors added for up to height is 13.5 meters according to current permits but it may be negotiated with Township that is eager to have this build
3. Interior demolition/reno permit ( on the window)
4. 50-70 new windows stock on site
5. Full architectural drawing by
RENOR & ASSOCIATES INC. Architects
6. temp Electric panel
7. Surveillance cameras installed outside the building , the computer surveillance system available
9. Insurance by Commercial Lines .
10. In 2018 I had a water to the property upgraded:
WATER INSTALLATION INCREASED WATER SERVICE FROM 25MM TO 38MM
11. Land Size 90.03 x 160 FT
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