Description

Offered under Power of Sale at $950,000, 121 Cavan Street presents a unique opportunity to acquire approximately 2.1 acres in an established Port Hope location. The property includes approximately 55,000 SF of industrial area plus an additional 10,000 SF of shed/storage area.Currently designated and zoned Service Employment, the property accommodates a broad range of employment uses including warehousing, light industrial, manufacturing, cold storage, service commercial, recreational and retail-related uses. Purchasers may explore continued industrial/employment use through renovation, repositioning or reconstruction.Beyond its existing employment use, the Port Hope Official Plan contains a site-specific policy for the former File Factory lands permitting High Density Residential uses, subject to a Zoning By-law Amendment, Site Plan Agreement, appropriate flood-proofing and other required municipal and regulatory approvals.This provides multiple potential paths to value, from industrial or employment use and adaptive reuse to longer-term residential redevelopment of the approximately 2.1-acre site.Conceptual plans have also contemplated a mix of cold storage, retail, food & beverage and recreational uses, demonstrating additional repositioning possibilities.Strategically located near Downtown Port Hope and the Ganaraska River, with convenient access to Highway 401. Offered on an "as is, where is" basis. All uses and development potential are subject to applicable approvals and purchaser due diligence.

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