Highway 55 in Virgil (Niagara-on-the-Lake) has undergone significant revitalization over the last few years. 1561 Niagara Stone Road (Hwy 55) is the latest confirmed retail development and will be anchored by Tim Horton’s and the LCBO.
Commercial Redevelopment of The Site
1561 Niagara Stone Road is in the heart of the first stretch of commercial redevelopment en route to Old Town, Niagara-on-the-Lake. The site is the home of the former Niagara Credit Union, purchased by the Meridian Credit Union several years ago. In 2017 the empty building was demolished by the developer in preparation for the new, exciting Niagara-on-the-Lake retail redevelopment.
The high traffic location along Hwy 55 is ideal for Niagara-on-the-Lake commercial real estate, such as retail, food services, or professional offices. Residential neighbourhoods surrounding the site capture the locals, as well as the inevitable tourist traffic travelling back and forth from Niagara-on-the-Lake.
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For many years, the only LCBO has been the small store in Old Town on the east end of Queen Street; the next closest options being 20 minutes away in Niagara Falls and St. Catharines. The only Tim Hortons is also in Old Town apart from the one just off the highway at Glendale. Virgil residents have waited a long time for the convenience of closer retail options apart from the the local grocery store.
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The New Retail Development Site
The plan for the new retail development also includes a 3,600 square foot building apart from the LCBO and Tim Hortons. This building is currently for lease, and can be demised into three 1,200 square foot units, one 2,400 square foot unit and one 1,200 square foot unit or one large 3,600 square foot space.
Property features:
- Property Type – Unit sizes from 1,200 sq. ft. to 3,600 sq. ft.
- Zoning – VC – Village Commercial - many Permitted Uses
- Rental Rates – Sq. Ft. NET- $25.00. T.M.I. – $8.50
- Frontage – 146.25 feet
- Front Facade and Pylon Signage available
If you are interested in learning more about the space, get in touch with Greg below.
