$1,499,900 - 2386 Sovereign Street, Oakville
Land for Sale in Oakville
New — Listed 2 days agoNeighbourhood: 1001 - BR Bronte
- MLS Number
- W13604486
- Property Type
- Land
- Status
- active
- Days on Site
- 2
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 9,914 sqft
- Neighbourhood
- Oakville
- Listing Brokerage
- Royal LePage Real Estate Services Ltd., Brokerage
Endless investment opportunity awaits on this 0.22-acre lot in the heart of Bronte Village. Zoned RL8-0 with mixed-use permissions under the Main Street designation of the Bronte Village Planning Report (2009), this property offers exceptional development flexibility. Permitted uses include residential, commercial, retail, office, or a thoughtfully designed mixed-use combination to maximize value in one of Oakville's most sought-after village settings.The well-maintained, charming family home currently on the property features 3 bedrooms, 2 bathrooms, a functional kitchen, spacious living room, and a finished basement, offering comfortable living or an excellent rental income opportunity while navigating the application and permitting process.Ideally located within walking distance to restaurants, shopping, Lakeshore Road, and the lake, this property combines immediate usability with long-term potential. A rare rear road allowance at the back of the property further enhances development potential and accessibility, making this a truly unique offering in the heart of Bronte Village.
Estimate your monthly payments for this property
Estimated Payment
$6,634.56/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover 1001 - BR Bronte
1001 - BR Bronte is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in 1001 - BR Bronte
- •Convenient location in Oakville
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
1001 - BR Bronte offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
2386 Sovereign Street, Oakville
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Key factors for evaluating this land parcel
Land Due Diligence Checklist
· Confirm zoning designation and all permitted uses
· Verify servicing (water, sewer, hydro) at lot line
· Order a Phase 1 Environmental Site Assessment
· Obtain an up-to-date survey (boundaries, easements)
· Review development charges and levies with the municipality
· Consult a land use planner on development feasibility
Commercial Financing Note
Land financing typically requires 35–50% down with specialized lenders. Carrying costs (taxes, interest) accumulate during any approval or development process — factor these into your feasibility.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Zoning & Permitted Use
Before anything else, I'd confirm the current zoning designation and what's permitted on this land. Zoning dictates everything: residential subdivision, commercial development, agricultural use, or mixed. The Oakville planning department can also tell you what, if any, Official Plan amendments are in progress that could affect the permitted uses.
Just Listed — Land Takes Time
This parcel just came to market. Unlike homes, land transactions rarely have the same urgency — buyers need time for due diligence: surveys, environmental reports, and planning consultations. Don't let "just listed" pressure you into skipping proper diligence.
Servicing & Infrastructure
A key question for any land purchase: is it serviced (municipal water, sewer, gas, hydro at the lot line) or unserviced? Bringing services to an unserviced parcel can cost $50,000–$500,000+ depending on proximity and Oakville's development charges. This can make or break a project's feasibility.
Environmental & Survey
I always recommend a Phase 1 Environmental Site Assessment for land purchases — it checks for historical contamination from prior uses. If the Phase 1 flags anything, a Phase 2 (soil sampling) follows. Also budget for an up-to-date survey, which confirms boundaries, easements, and encroachments.
Development Approval Timeline
If you're buying with development in mind, factor in the approval timeline. Minor variance: 3–6 months. Site plan approval: 6–18 months. Official Plan amendment or rezoning: 1–3+ years. These timelines directly affect your carrying costs — property taxes and financing accumulate the entire time. Having an experienced planner and real estate lawyer on your team from day one matters.
Let's Walk Through It Together
Evaluating land requires a different lens than buying a home. I'll walk the site with you, help you ask the right questions of the listing agent, and connect you with the right professionals — planners, environmental consultants, commercial lawyers — to make sure you know exactly what you're buying before you commit.