An exceptional opportunity to acquire a strategically located income-producing property with strong mid-term redevelopment potential. Situated less than 200 metres north of Lake Ontario, future development on the site could offer stunning, unobstructed south-facing views of the water. The site comprises approximately 25,973 square feet (0.60 acres) with 216 feet of frontage along Lake Shore Boulevard West, plus additional exposure along First Street and Second Street, enhancing accessibility and site prominence. Recent policy updates supporting increased housing supply suggest a potential gross floor area of approximately 150,000 SF in a9-storey concept or up to 176,000 SF in an 11-storey concept, subject to municipal approvals. The Property is currently tenanted by a vibrant mix of local businesses, including Maple Leaf House, We The Tacos and Cycle Butik, providing reliable holding income to offset carrying costs during the planning phase. This site is well-suited for a mixed-use, purpose-built rental development in a highly desirable, rapidly evolving lakeside neighbourhood. Property being sold "as is, where is."