Homula Realty Brokerage
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

860 Forks Road W, Welland, ON L3B 5R6

Investment
$1,249,000

23-acre land opportunity with an existing commercial facility! Welcome to 860 Forks Road West, offering over 23 acres with a 5,000+ sq. ft. commercial building, currently operating as the home of a locally recognized radio station under My Broadcasting Corporation. Ideally located at Highway 58 and Forks Road, with excellent road visibility and convenient access from throughout Niagara Region.The property features ample parking for 20+ vehicles and an existing, fully functional solar installation - further reducing overall operating expenses with energy savings. The building offers potential for continued use or leasing, while the expansive land base provides flexibility for a variety of future opportunities, subject to purchaser due diligence and all applicable approvals. Suitable for investors, owner-users, agricultural purchasers or strategic buyers seeking acreage and scalability. Business and operating assets not included in the sale. All measurements, permitted uses and future development potential to be independently verified by the purchaser. HST may apply to all or a portion of the purchase price. Flexible closing available. Photos may have been digitally enhanced, edited or virtually staged, including with AI, and may not reflect the property's exact condition or contents.

MLS number
X13789198
Type
Investment
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
L3B 5R6
Photos
41
Property tax
$29,299 / year
0days · this listing
Total days on market across every earlier listing of this propertyRegistration and sign-in required

This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.

Listing history

No previous listings found for this address.

Where this property is

Where this address sits, matched against open government data.

Estimated from the house-number range along this road: the right block of the right street, not the exact building. No address file publishes this house.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

What an H-Value is and how it is calculated — the method and our measured error, no account needed.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 708 people.

$84,000Median household income
82.3%Own their home
83.6%Detached houses
50Median age
6.1%Born outside Canada
6.8%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35260195 — the few blocks around this address, home to 708 people. It describes the area, not this property.

708Population
45.6Average age
2.3Household size
$92,000Average household income
$84,000Median household income
82%Own their home
18%Rent
0%Condominiums
6%Born outside Canada
7%University degree
$516,000Average home value
4%Low income
52%Not in the labour force
20%Never married
$20,000 to $24,9991%
$25,000 to $29,9992%
$30,000 to $34,9992%
$35,000 to $39,9993%
$40,000 to $44,9992%
$45,000 to $49,9993%
$50,000 to $59,9997%
$60,000 to $69,9995%
$70,000 to $79,9995%
$80,000 to $89,9996%
$90,000 to $99,9993%
$100,000 and over29%
$100,000 to $124,99912%
$125,000 to $149,9997%
$150,000 to $199,9998%
$200,000 and over3%

Percentages are of the 430 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$249,800 · minimum here is $99,900
$5,530.30per month
Borrowed before insurance$999,200
Total borrowed$999,200
Interest over 25 years at 4.5%$659,891

If you rented it out

-$7,971.89per month out of pocket
Rent$0.00
Everything it costs to hold$7,971.89
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by REVEL REALTY INC.. Listing data provided by the Toronto Regional Real Estate Board.