196 Vermilion Avenue, Princeton
Prime Mixed-Use Development Opportunity in Princeton Positioned to become a landmark in the heart of Princeton, this exceptional property is being prepared for a 27-suite residential building mix of 1 and 2 bedroom suites with main floor commercial space, designated parking and convenient location. design permit is expected shortly which can significantly reduces timelines and allows a developer to move forward with confidence. Princeton is experiencing a critical shortage of housing, with extremely low vacancy rates in both long-term and short-term rentals. Strong demand is driven by major industry players in the region, creating consistent need for employee housing, along with growing demand from the broader community. This property presents a rare opportunity to deliver a signature mixed-use building that combines residential density with valuable commercial frontage—ideal for retail, office, or service-based tenants. The seller is open to building and consulting services if required. With approvals nearing, strong rental demand, and limited competing inventory, this is a chance to develop a trademark building in a market primed for growth and long-term returns. (id:62865)
Status
Active
Property Type
Vacant Land
Ownership
Freehold
Annual Tax
$3,184
Parcel Number
023-163-631
Data Source
Association of Interior REALTORS®
Lot Size
0.2 acres
Water Source
Municipal water
Sewer
Municipal sewage system
Utilities
$1,495,000
Office
Canada Flex Realty Group Ltd.
Loan Amount:
$1,196,000
Estimated Monthly Payment:
$5,828
This is an estimate for informational purposes only. Consult with a financial advisor.
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