589 Ontario Street
St. Catharines, ON
- 30,238 sqft
- Land
- 79 days on market
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.
Listing Details
- Taxes (2025)
- $26,246
- Listed
- June 27, 2026
Price History
Listing history
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Property
- Lot Size
- 121.26 x 174.74 Feet
Utilities
- Sewer
- Sanitary+Storm
Location & Legal
- Cross Street
- Lakeport Rd & Lakeshore Rd
- Zoning
- R2, C2
- Parcel Number
- 461881606
- Possession
- Flexible
- Occupancy
- Tenant
Included
- Inclusions
- Refrigerator, Stove, Washer, Dryer, ELF's
- Exclusions
- All Tenants belongings
Community
Postal area L2N
- Population
- 30,719
- Private dwellings
- 13,827
- Median age
- 52
- Average household size
- 2.2
- Median household income
- $78,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in St. Catharines · last 12 months
- Median sold price
- $540,000
- Homes sold
- 1,602
- Median days on market
- 26
- Sale-to-list price
- 96.6%
Based on 1,602 recorded sales of commercial properties in St. Catharines over the last 12 months.
Listed by
ROYAL LEPAGE NRC REALTY COMPASS ESTATES
Walk Score
Walk
Transit
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Location
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Commercial figures
- Building area
- 30,238 sq ft
- Price per sq ft
- $114.09
- Annual property tax
- $26,246
- Tax per sq ft
- $0.87
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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