PICKERING DEVELOPMENT SITE | DRAFT PLAN APPROVED Rare 1.146-acre redevelopment opportunity with draft plan approval for 27 townhouse units in a prime Pickering location. Currently generating approx. $320,000 annual rental income (5.8% return based on $5.5M asking price) from existing church and daycare tenants. Enjoy strong holding income while planning redevelopment. Signed termination clauses provide future flexibility, with potential to redesign the site and increase density/unit count. Walking distance to the lake, with Frenchman's Bay and waterfront trails practically in your backyard. Exceptional location near Highway 401, GO Transit, parks, and convenient access to downtown Toronto. Draft Plan Approved Strong In-Place Cash Flow Waterfront Lifestyle Location Prime Growth Corridor Future Development UpsideRare opportunity for developers, builders, and investors.
- MLS®#:
- E13152226
- Property Type:
- Land
- Property Style:
- Area:
- Durham
- Community:
- West Shore
- Taxes:
- $68,434.94 / 2025
- Added:
- May 20 2026
- Lot Frontage:
- 164.43
- Lot Depth:
- 286.86
- Status:
- Active
- Outside:
- Year Built:
- Brokerage:
- HC REALTY GROUP INC.
- Lot :
-
286
164
BIG LOT
- Intersection:
- Oklahoma Dr/Eyer Dr
- Rooms:
- Bedrooms:
- Bathrooms:
- Fireplace:
- Utilities
- Water:
- Municipal
- Cooling:
- Heating Type:
- Heating Fuel:
Listing Details
Insights
- Strong Cash Flow: The property currently generates approximately $320,000 in annual rental income, providing a solid 5.8% return based on the asking price of $5.5 million. This offers immediate financial benefits while planning for redevelopment.
- Draft Plan Approved for Development: The site has draft plan approval for 27 townhouse units, presenting a rare redevelopment opportunity in a prime location. This approval streamlines the development process, making it attractive for builders and investors.
- Prime Location: Situated in the desirable West Shore community of Pickering, the property is within walking distance to the lake and waterfront trails, and offers convenient access to Highway 401 and GO Transit, enhancing its appeal for future residents.
Neighborhood Overview
Complete neighborhood profile for 755 OKLAHOMA Drive
West Shore home prices
Average sold price for Detached, Semi-Detached, Condo, Townhomes in West Shore
* Data is provided courtesy of TRREB (Toronto Regional Real-estate Board)
