$1,599,999
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550 Lakeshore Drive, North Bay (ferris), ON P1A2E6

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15 Beds
7 Baths
- Sq Ft

Rare opportunity to acquire a well-established 6+1 unit income property on an approximately 0.80-acre parcel along a prime stretch of Lakeshore Drive in North Bay. The property offers an attractive existing unit mix, including six 2-bedroom units and one 3-bedroom unit, and additional below-grade / partially completed space, creating meaningful upside through rent normalization, targeted unit improvements, and longer-term redevelopment potential. The property provides flexibility for investors, end-users, builders, and developers. Maintain the asset as an income-producing property, renovate to enhance value, optimize the existing unit mix, or explore redevelopment opportunities. Stabilized market rent projections indicate materially improved income performance, with further upside available through unit optimization. Under the existing R6 zoning, a conceptual redevelopment plan indicates potential for a 16-unit stacked townhouse format with approximately 25, 000 sq. ft. of buildable area. Additional upside may also be available through a future rezoning to RM3, which could potentially support a 3 to 4 storey apartment building, subject to municipal review and approvals. Current rental income provides holding stability with substantial rent normalization upside while redevelopment plans are evaluated, making 550 Lakeshore a compelling opportunity to secure a foothold in one of North Bay's evolving residential corridors. Buyer to conduct their own due diligence regarding zoning, rents, expenses, unit mix, permitted uses, development potential, and future approvals. The property located along a transit-supported arterial corridor, the site is close to shops, restaurants, parks, schools, public transit, and surrounding residential amenities. The area continues to benefit from growth and intensification initiatives supporting a broader range of housing options over time. (id:58753)

Listing By: MAXIM MENDES - ROYAL LEPAGE TERREQUITY REALTY cncrea2 Realty.com
  • MLS® X13172154
  • Date Listed05/25/2026
  • Days on Realty 12 Days
  • Bedrooms 15
  • Bathrooms 7 baths
  • Lot Size -
  • Sewer Other
  • Property Type Other
  • Water Public

Interior Features

  • Cooling None
  • Heating Baseboard heaters, Natural gas

Exterior / Lot Features

  • Roof -
  • Lot Size Acres -
  • Lot Size SQFT -
  • Lot Features Irregular lot size, Open space, Flat site

Directions

Hwy 11N to Lakeshore Dr.

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for P1A2E6

Discover key demographics, population statistics, and environmental insights for the North Bay (ferris), ON area.

Walkability in ON / P1A2E6

Source: Walk Score

62/100

Somewhat Walkable

Walk Score ®

0/100

Minimal Transit

Transit Score ®

54/100

Bikable

Bike Score ®

Overview

Some errands can be accomplished on foot. It is possible to get on a bus. Some bike infrastructure.

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 34/100, Transit Score: 0/100, Bike Score: 48/100.

Points of Interest near 550 LAKESHORE DRIVE, North Bay (Ferris), ON P1A2E6

Frequently Asked Questions for 550 LAKESHORE DRIVE

Source: Realty.com

550 LAKESHORE DRIVE, North Bay (Ferris), ON P1A2E6 in North Bay (Ferris), ON P1A2E6 is a other listed at $1,599,999. Highlights include 15 bedrooms, 7 bathrooms. Realty.ca has 7 photos, sales history, school insights, and mortgage tools for this listing.

Realty.com has 7 photos of 550 LAKESHORE DRIVE.

The full address for this home is 550 LAKESHORE DRIVE, North Bay (Ferris), ON P1A2E6.

550 LAKESHORE DRIVE has been listed on Realty.com since Mon May 25, 2026

Some errands can be accomplished on foot. It is possible to get on a bus. Some bike infrastructure.

The average walkability score in the surrounding area is Walk Score: 34/100, Transit Score: 0/100, Bike Score: 48/100.

Listing provided courtesy of: ROYAL LEPAGE TERREQUITY REALTY
Listing agent: MAXIM MENDES

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