589 Ontario Street, St. Catharines, ON L2N 4N9, St. Catharines, ON
30238.0 sqft
Rare opportunity to acquire a 21-unit multifamily investment in St. Catharines' desirable north end with exceptional income today and significant redevelopment potential for tomorrow. With 6 lots providing frontage on both Ontario Street and Embassy Avenue, the property currently generates a 6.1% cap rate, with a clear path to approximately 8% cap rate through lease-up and rental optimization. The site has been the subject of a pre-consultation process with the City, identifying future redevelopment potential (buyer to complete their own due diligence). Investors benefit from strong in-place cash flow while pursuing future planning approvals, creating a unique opportunity to generate income during the entitlement process. Whether you're seeking a stable long-term hold, a value-add apartment investment, or a strategic land assembly with development upside, this offering presents exceptional flexibility in a prime location.
Property Highlights
For Sale
MLS NO.
X13497676
Type
Commercial
Sub Type
Land
Square Footage
30238.0 sqft
Complete Property Details
Property Type
Commercial
Sub Type
Land
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
X13497676
Lot Width
121.26
Lot Size
30238.0
Lot Size Units
SquareFeet
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
589 Ontario Street, St. Catharines, ON L2N 4N9
City
St. Catharines
Neighbourhood
438 - Port Dalhousie
County / Region
Niagara
Province / State
ON
Postal Code
L2N 4N9
Cross Street
Lakeport Rd & Lakeshore Rd
Directions
QEW, North on Ontario
Country
CA
List Price
$3,450,000
Annual Taxes
$26,246
Tax Year
2025
Legal Description
LT 2 PL 246 GRANTHAM S/T INTEREST IN RO430527, RO430521 & RO430524 CITY OF ST. CATHARINES
Possession Type
Flexible
Possession Details
Flexible
Listing Office
ROYAL LEPAGE NRC REALTY COMPASS ESTATES
Board
Niagara Association of REALTORS
Original Entry
2026-06-27T16:09:56Z
Media Updated
2026-06-27T16:09:57Z
Photos Updated
2026-06-27T16:09:57Z
Last Modified
2026-06-28T20:37:19Z
System Modified
2026-07-06T21:40:17.158016Z
MLS Status
New
Co List Office Name
ROYAL LEPAGE NRC REALTY COMPASS ESTATES
Ddfyn
Yes
Expiration Date
2026-09-14
Hstapplication
In Addition To
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
461881606
Public Remarks
Rare opportunity to acquire a 21-unit multifamily investment in St. Catharines' desirable north end with exceptional income today and significant redevelopment potential for tomorrow. With 6 lots providing frontage on both Ontario Street and Embassy Avenue, the property currently generates a 6.1% cap rate, with a clear path to approximately 8% cap rate through lease-up and rental optimization. The site has been the subject of a pre-consultation process with the City, identifying future redevelopment potential (buyer to complete their own due diligence). Investors benefit from strong in-place cash flow while pursuing future planning approvals, creating a unique opportunity to generate income during the entitlement process. Whether you're seeking a stable long-term hold, a value-add apartment investment, or a strategic land assembly with development upside, this offering presents exceptional flexibility in a prime location.
