Acquisition: 121 & 161 Clairmont Rd, Gravenhurst ON
Muskoka Gardens Apartments is located at 121 & 161 Clairmont Road, Gravenhurst and was acquired on February 4th, 2021.
The property was a former motel that was converted to 2-bedroom apartments built in the 1960’s. The property is situated just north of the downtown area of Gravenhurst. It is surrounded by residential uses to the North, East & West, and a community centre to the South.
The site holds approximately 8,000 sqft at the rear of the lot that could allow for potential development opportunities for additional units.
Gravenhurst is a town within the Muskoka Region of Ontario. It is approximately 185 kilometers north of Toronto, Ontario. Highway 11 serves as the major arterial route for the town heading Northbound into North Bay and southbound toward Barrie, turning into Hwy 400.
Gravenhurst has a population of approximately 12,311 and acts as a southwestern gateway into Algonquin National Park in the region of Muskoka. This region attracts more than 2.1 million visitors annually as it provides a scenic area that is surrounded by greenspace, lakes and picturesque towns. The major industries of employment include retail trade, health care and social work, construction and accommodation and food services. Gravenhurst’s main economic driver is seasonal tourism, with the Muskoka region generating over $500 million in annual visitor expenditures.
The site is centrally located near the downtown Gravenhurst and within walking distance of public transportation. Overall, the condition of the property is in good condition and it is Rental Building Certified