$725,000

About this property

Nearly one full acre (42,528 sq ft / 0.976 ac) of vacant land just a short drive from Kanata, situated at the prominent intersection of Highway 7 and Mississippi Road in Carleton Place - one of the region's highest-traffic and most commercially visible corners, offering exceptional exposure for any future development. The property's Spicer Street frontage of approximately 39 ft provides a defined residential access point, and a prospective buyer may wish to explore severing this Spicer Street frontage section to develop a single or multifamily residence in line with the adjacent Spicer Street homes, while retaining the substantial remaining rear portion of the site fronting on Highway 7 and Mississippi Rd for multi-family development - a potential severance strategy that could generate additional development projects to fit in on the Spicer Street side while maximizing the remaining land's potential for multifamily (zoning in place). The site is zoned Mississippi Sector Residential with density allowances currently permitting up to 13 residential units at the present full lot size. The site offers full municipal services available at the street. Buyers with a commercial vision may also wish to explore a rezoning application for retail/office mixed-use given the high daily traffic volumes and the surrounding mix of commercial and residential uses along Highway 7 already established along this corridor. Carleton Place has emerged as one of Eastern Ontario's fastest-growing communities, with new residential subdivisions absorbing quickly and commercial development along the Highway 7 corridor accelerating, making this a compelling opportunity for a developer or investor looking to build into a market that continues to outpace supply. Note: all zoning permissions, severance potential, and development options to be confirmed by the buyer with the Town of Carleton Place planning department and their own legal counsel. Note: Municipal address is PLAN 27M28 BLK 7

Property details