515 Park Avenue, Chatham-Kent, ON
Property Highlights
Welcome to this remarkable land located in the coveted neighborhood of Chatham. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $1 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Spacious lot size measured in Feet
- equipped with no central cooling and highly efficient none heating
Description
Great opportunity for an Investor/Developer to acquire approx. 11.5 acres of land (2 lots {Parcel 1&2} including approx. 1.04 acres of open land) are being sold together. Zoning is UC(HC1) allows mixed use for development of a commercial/residential project to enhance the current Chatham(city) community providing housing and commercial/retail opportunities permitting many uses like Residential, Commercial, Hotel, LTC, Gas Station, Assembly, Warehousing etc. The vacant land is located on the north side of Park Avenue East, at the northeast corner of the Parks street intersection, close to many amenities including McDonalds and is in a heavy traffic area and close proximity to Hwy 401/Hwy 40. Services are on the road. Site Plan Approval for 140 residential units and a retail plaza is expected soon. Can qualify for CMHC funding (to be explored). 424 Park St E approx. 1.04 acres lot (open land) can be planned as a drive through restaurant (subject to approvals). Gordie Howe International bridge connecting Detroit to Windsor will enhance trade and employment in the region. A car battery EV plant coming up by Toyota in Windsor will enhance the business and employment in the region. Please Note: Both the lots are listed for sale together and included here. Parcel 1 - Part 2 approx. 1.04 acres at 424 Park Ave E N7M 5Y5 Parcel 2 - Parts 1-11 approx. 10.04 acres at 515 Park Ave E N7M 5J4
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 515 Park Avenue E, Chatham-Kent, ON N7M 5J4
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About Purchasing a Home in Chatham-Kent, ON
For a property listed at $1 in Chatham-Kent, the legal minimum down payment is $0 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $0 for this transaction. As this listing is in Chatham-Kent (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $0.
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