509 Lakeshore Rd W
Old Oakville, Oakville, L6K 1G6
FOR SALE
$2,998,000
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BEDROOMS2
BATHROOMS1
KITCHENS4 + 2
ROOMSW9361278
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Property Description
This prime mixed-use property offers incredible potential in a prestigious, high-traffic location. The main floor currently operates as a convenience store, benefiting from its proximity to Appleby College with over 800 students, creating a built-in customer base. The store has significant growth potential with a liquor license already in place, and there's an option to expand by offering seasonal flowers, plants, and pots. Additionally, the C1 SP:49 zoning allows for a wide range of businesses, such as medical offices, veterinary clinics, dental practices, or professional services, all ideal for the affluent residential community surrounding the area. A large parking lot and backyard provide convenience and space for future clientele. The second floor features a 2-bedroom apartment, offering additional rental income or the opportunity for a live-work setup. Whether you utilize the current structure or explore redevelopment options, this property is full of potential for both business and investment growth.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-02-16 | 2023-04-02 | 45 | $2,100 | - | Terminated |
Extras
All existing appliances: Fridge, Gas Stove & Washer. All existing ELFS & window coverings
Property Features
Fenced Yard, Park, Place Of Worship, Rec Centre, School, Waterfront
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Property Details
Street
Community
City
Property Type
Detached, 2-Storey
Approximate Sq.Ft.
2500-3000
Lot Size
125' x 125'
Fronting
North
Taxes
$9,200 (2024)
Basement
Unfinished
Exterior
Vinyl Siding
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
10
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | 2nd | 10.01' x 23.16' | Laminate, Window |
| Kitchen | 2nd | 9.74' x 13.32' | Laminate, Window |
| Prim Bdrm | 2nd | 11.25' x 13.48' | Laminate, Closet, Window |
| Br | 2nd | 11.52' x 13.48' | Laminate, Window |
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Oakville Market Statistics
Oakville Price Trend
509 Lakeshore Rd W is a 2-bedroom 2-bathroom home listed for sale at $2,998,000, which is $1,838,500 (158.6%) higher than the average sold price of $1,159,500 in the last 30 days (November 2 - December 1). During the last 30 days the average sold price for a 2 bedroom home in Oakville declined by $358,000 (23.6%) compared to the previous 30 day period (October 3 - November 1) and down $548,166 (32.1%) from the same time one year ago.Inventory Change
There were 11 2-bedroom homes listed in Oakville over the last 30 days (November 2 - December 1), which is up 22.2% compared with the previous 30 day period (October 3 - November 1) and up 83.3% compared with the same period last year.Sold Price Above/Below Asking ($)
2-bedroom homes in Oakville typically sold ($58,879) (5.1%) below asking price over the last 30 days (November 2 - December 1), which represents a $79,404 decrease compared to the previous 30 day period (October 3 - November 1) and $20,000 less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 2-bedroom homes in Oakville over the last 30 days (November 2 - December 1) stood at 45.5%, up from 44.4% over the previous 30 days (October 3 - November 1) and down from 50.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 2-bathroom home in Oakville stood at 18 days when successfully sold over the last 30 days (November 2 - December 1), compared to 63 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Condos Plus Corporation
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