- What An 88-acre land parcel is on the market in Innisfil, Ont.
- Why The property is expected to fetch $250,000/developable acre
- What next The land needs to be re-designated before development can take place
An 88-acre agricultural land parcel in Innisfil, Ont., with development potential could fetch as much as $15m.
The valuation for the parcel at 7820 10th Side Road works out to $250,000/usable acre. Approximately 56 to 60 acres – comprising 70% of the overall lot size – are suitable for future development. The land has been used for crop farming and has no buildings or infrastructure needed to support development.
Royal LePage Commercial’s land and investment group is marketing the site on behalf of an individual private investor.
The parcel is near the border of Innifsil and Barrie, close to two designated employment areas with one in each municipality. Any future development would require the Town of Innisfil to re-designate the land from its agricultural zoning.
The property is 660m east of a planned force main – a pressurized pipeline for transporting wastewater – that is part of an expected expansion of local sewer systems.
The closest onramp to Highway 400 is 3km away.
Innisfil and Barrie have seen significant developer interest of late, with the likes of DG Group and Mattamy Homes, among others, working on projects in the area.
Another major project already underway is DSV’s 1.3m sq ft industrial facility at 3575 Innisfil Beach Road. The building, constructed by Broccolini, is expected to open later this year. Broccolini sold the 56-acre property to DSV last April for $84m, according to Green Street’s Sales Comps database.
Past noteworthy land deals for Innisfil include the sale of two adjacent parcels on 5th Side Road for a total of $20.6m in June 2023, according to the database.
Last November, a 65-acre commercial land parcel in the Cookstown area of Innisfil was listed for $29.5m, or $454,000/acre. The property is still on the market.
