550 Lakeshore Drive

ActiveNorth Bay · Ferris73 days on marketMLS® X13172154

$1,599,999

$457 / sq ft

Bedrooms15

Bathrooms7

Interior3,500 sq ft

Lot Size1 sq ft

TypeSingle Family Home

ListingFor Sale

Days on Market73

About this property

Rare opportunity to acquire a well-established 6+1 unit income property on an approximately 0.80-acre parcel along a prime stretch of Lakeshore Drive in North Bay. The property offers an attractive existing unit mix, including six 2-bedroom units and one 3-bedroom unit, and additional below-grade / partially completed space, creating meaningful upside through rent normalization, targeted unit improvements, and longer-term redevelopment potential. The property provides flexibility for investors, end-users, builders, and developers. Maintain the asset as an income-producing property, renovate to enhance value, optimize the existing unit mix, or explore redevelopment opportunities. Stabilized market rent projections indicate materially improved income performance, with further upside available through unit optimization. Under the existing R6 zoning, a conceptual redevelopment plan indicates potential for a 16-unit stacked townhouse format with approximately 25,000 sq. ft. of buildable area. Additional upside may also be available through a future rezoning to RM3, which could potentially support a 3 to 4 storey apartment building, subject to municipal review and approvals. Current rental income provides holding stability with substantial rent normalization upside while redevelopment plans are evaluated, making 550 Lakeshore a compelling opportunity to secure a foothold in one of North Bay's evolving residential corridors. Buyer to conduct their own due diligence regarding zoning, rents, expenses, unit mix, permitted uses, development potential, and future approvals. The property located along a transit-supported arterial corridor, the site is close to shops, restaurants, parks, schools, public transit, and surrounding residential amenities. The area continues to benefit from growth and intensification initiatives supporting a broader range of housing options over time.

Features & finishes

View

Air Conditioning

Basement

Property details

MLS® Number	X13172154
Status	Active
Listing Type	For Sale
Property Type	Single Family Home
Interior Size	3,500 sq ft
Lot Size	1 sq ft
Beds / Baths	15 bed · 7 bath
Neighbourhood	Ferris
City	North Bay
Postal Code	P1A 2E6
Province	ON
Listed Date	May 25, 2026
Days on Market	73
Price per Sq Ft	$457
Brokerage	ROYAL LEPAGE TERREQUITY REALTY