A rare opportunity to acquire a development parcel in a high-demand commercial corridor directly across from Cineplex, popular restaurants, cafés, and major retail. The property includes one commercial building and three residential houses, providing reliable holding income while future development plans are advanced. The current zoning supports two strong development directions. One option allows for a nine-storey condominium concept with approximately 232 residential units and main-floor commercial space. The second supports two six-storey purpose-built rental buildings totalling 99 units, also with commercial space at grade and well aligned with CMHC-favourable rental programs. Both concepts reflect the area's ongoing growth and the strong demand for mid-rise residential living. The site offers excellent exposure, walkable amenities, and a strong demographic base. Existing income from the on-site structures helps offset carrying costs, making this a suitable opportunity for developers planning immediate progress or a strategic long-term hold. With flexible mid-rise potential and a location within an active commercial hub, this parcel presents significant upside and long-term value for a forward-thinking developer or investor.
Address
202-196 Upper Mount Albion Road
List Price
$8,490,000
MLS® Status
New
Expiration Date
2026-05-13
Property Type
Commercial
Type of Dwelling
Land
Transaction Type
Sale
Area
Hamilton
Sub-Area
Stoney Creek Mountain
Lot Size Source
MPAC
Lot Depth
200
Lot Type
Lot
Lot Size Units
Feet
Lot Width
286.13
Parcel Number
170940008
Total Building Area
57226
Occupant Type
Tenant
Cross Street
Upper Mount Albion Rd and Artfrank St
MLS® Number
X12543904
Listing Brokerage
RIGHT AT HOME REALTY
Postal Code
L8J 1V4
Posession Details
TBD
Tax Amount
$1.00
Tax Year
2024
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Tax Legal Description
PT LT 32, CON 7 SALTFLEET , AS IN AB221512 ; STONEY CREEK CITY OF HAMILTON
Sewer
Sanitary