191-221 Pennie Avenue

ActiveTehkummah332 days on marketMLS® X12388969

$3,999,000

$34,179 / sq ft

Bedrooms3

Bathrooms7

Interior117 sq ft

Lot Size117 sq ft

TypeCommercial

ListingFor Sale

Days on Market332

About this property

Introducing The Estate on Michaels Bay, a rare 116-acre waterfront property on Manitoulin Island offering unmatched commercial potential. With 928 feet of shoreline on Lake Huron, this estate features a 9,000 sq ft log lodge, 3,000 sq ft guest house, 3,600 sq ft heated workshop, private lake, and a 2,500 ft air strip allowing direct access from Toronto in just 85 minutes by private plane. There is also a commercial airport with a 3,500 ft runway capable of handling executive jets just 40 minutes away from the property. The MS Chi-Cheemaun ferry from Tobermory to Manitoulin Island is 20 minutes away. Previously operated as a restaurant, the property is primed for revival as a destination dining venue or luxury hospitality experience. Its layout and amenities make it ideal for a corporate retreat, wellness resort, or boutique lodge. Development for a golf course was initiated, with fairways already cleared offering a head start for investors looking to complete and brand a signature course. The main residence boasts vaulted ceilings, radiant in-floor heating, a dramatic 4-sided stone fireplace, luxury kitchen, spa-like primary suite, and expansive entertainment spaces. The guest house includes 4 bedrooms and 2.5 baths, while the workshop offers oversized garage doors, EV charging, and an unfinished apartment. Backing onto 500+ acres of protected conservation land with hiking trails, this gated estate blends privacy, adventure, and upscale infrastructure. Whether reimagined as a resort, executive retreat, or legacy investment, this property delivers a once-in-a-lifetime opportunity to shape a premier destination in Northern Ontario. Manitoulin Island is the Largest Fresh Water Island in the World with stunning natural beauty, including beautiful waterfalls, sandy beaches, and numerous lakes and trails. It's a popular destination for camping, hiking, and stargazing, offering a tranquil escape into nature. The island is easily accessible by vehicle, airplane and boat.

Features & finishes

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Air Conditioning

Basement

Property details

MLS® Number	X12388969
Status	Active
Listing Type	For Sale
Property Type	Commercial
Interior Size	117 sq ft
Lot Size	117 sq ft
Beds / Baths	3 bed · 7 bath
City	Tehkummah
Postal Code	P0P 2C0
Province	ON
Listed Date	September 8, 2025
Days on Market	332
Price per Sq Ft	$34,179
Brokerage	Sotheby's International Realty Canada