28408 Highway 48 Road, Georgina, ON
Virginia, Georgina · MLS® N13864718
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About this home
In short
- Rare investment and redevelopment opportunity on Highway 48 in Georgina.
- Situated on approximately 4.5 acres with approximately 463 feet of prominent highway exposure, this established mixed use property combines immediate income with...
- The building also includes a full basement and is identified as containing 16 rooms, 7 bedrooms, 9 washrooms and 6 kitchens.
- The property is RU and C2 zoning, together with well and septic services.
- Located in the Pefferlaw and Virginia area of eastern Georgina, the property benefits from direct Highway 48 access and proximity to growing residential communities...
Rare investment and redevelopment opportunity on Highway 48 in Georgina. Situated on approximately 4.5 acres with approximately 463 feet of prominent highway exposure, this established mixed use property combines immediate income with substantial long term potential. The main level features established commercial uses, including Circle K convenience store and Coffee Time, while the second floor contains five residential apartments. The building also includes a full basement and is identified as containing 16 rooms, 7 bedrooms, 9 washrooms and 6 kitchens.The large irregular parcel provides excellent visibility, ample on site space and flexibility for an investor, developer or owner user. The property is RU and C2 zoning, together with well and septic services. Subject to confirmation of zoning, servicing, environmental requirements and municipal approvals, the commercially zoned portion may support additional retail or restaurant space, professional or medical offices, a hotel or motel, automotive or fuel related uses, equipment or vehicle sales, commercial parking, storage and other highway commercial opportunities. Located in the Pefferlaw and Virginia area of eastern Georgina, the property benefits from direct Highway 48 access and proximity to growing residential communities, local businesses and the year round attractions of the Lake Simcoe region. This is a distinctive opportunity to acquire an established income producing property with recognizable commercial occupants, multiple residential units, substantial highway frontage and approximately 4.5 acres of land.Financial information is available to qualified buyers upon execution of a confidentiality agreement. Buyers and their representatives are responsible for conducting their own due diligence regarding zoning, permitted uses, servicing, environmental condition, apartment legality, development potential and all applicable approvals.
Key facts
- Property type
- Other, 2-Storey
- MLS®
- N13864718
- Bedrooms
- 7
- Bathrooms
- 9 (4 half)
- Size
- 3500-5000 sq ft
- Lot
- 463 × 394 ft
- Cross streets
- Hwy 48 & Cronsberry
- Parking
- 0 parking
- Basement
- Full
- Heating
- Forced Air
- A/C
- Other
- Exterior
- Aluminum Siding
- Foundation
- Concrete
- Roof
- Flat
- Sewer
- Septic
- Property tax
- $21,300 / 2025
- Days on market
- 13
- Listing brokerage
- EXP REALTY
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Virginia, Georgina, ON
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Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 19, 2026); conventional rates run a little higher.
Mortgage amount $1,519,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $8,400
- Property tax
- $1,775
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $10,175
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $34,455
- Estimated closing costs
- $34,455
Plus your down payment of $379,800. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $503,995
- Principal paid down
- $185,618
- Interest paid
- $318,377
- Balance remaining
- $1,333,582
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of EXP REALTY. MLS®/PropTx.