2465 HIGHWAY 518 W, McMurrich/Monteith (Sprucedale)

$350,000

For sale: Other

Other at 2465 HIGHWAY 518 W, McMurrich/Monteith (Sprucedale)
Property type
Commercial Retail
MLS®
MLS® X13626150
Neighbourhood
Sprucedale

Prime Redevelopment Opportunity: Historic 6,000+ SQFT Asset with Grant PotentialCapitalize on this high-potential redevelopment project positioned on an expansive 150' x 200' lot. Formerly the historic Sprucedale School House, this structurally sound 6,000+ sq. ft. building spans two massive levels, complemented by a detached 640 sq. ft. storage facility. Character features, including original hardwood floors, offer unique architectural integration for a premium multi-residential or senior living conversion. The property aligns exceptionally well with lucrative government grants for senior housing infrastructure. Vital environmental due diligence, including the Designated Substances Survey (DSS) and Chimney Swifts Report, will be released to the successful buyer upon contract. Sold "As-Is, Where-Is," this blank-canvas asset is primed for an investor looking to maximize ROI in a high-demand sector.

Sold data

Homes in McMurrich/Monteith (Sprucedale) — recent sold market

Homes in McMurrich/Monteith (Sprucedale) took a median of 48 days to sell over the last 730 days, with the quickest quarter selling within 25 days and the slowest quarter taking more than 90, across 46 recorded sales.

The median sale price was $412,450.

Homes sold for about 5.5% below asking on average, so there was room to negotiate.

About 9% of sales closed above the list price.

Around 35% of sellers reduced their price before finding a buyer.

Median days to sell
48
Median sale price
$412,450
Sale-to-list ratio
94.5%
Sold above asking
9%

Based on 46 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Currently for sale

Homes for sale near 2465 HIGHWAY 518 W