Property Overview & Key Characteristics

This vacant land parcel at 68 Perseus Way is situated in Winnipeg's West Kildonan Industrial area. Its primary appeal lies in its potential and its position within a dedicated industrial zone. The 2,550 sqft lot ranks in the top tier for size on its street and within the neighbourhood, offering a solid footprint for development or business use. With an assessed value of $9,400, it represents a notably low entry point compared to many other properties in the city, ranking in the top 1% of Winnipeg for low assessment.

The property would suit buyers looking for an industrial land base without existing structures, such as small business owners, developers, or investors seeking a strategic land hold. Its value is fundamentally in its zoning and location within an established industrial corridor, making it a practical canvas for a business-specific project rather than a residential one. A less obvious perspective is that this lot, surrounded by similarly valued parcels, may indicate an area poised for incremental redevelopment or a stable, low-cost operational base for a business where premium location is less critical than functionality and affordability.

Frequently Asked Questions

1. What can be built on this property?
As it is located in a designated industrial area, any development would need to comply with West Kildonan Industrial zoning bylaws, which typically permit uses like warehousing, light manufacturing, or commercial services. Prospective buyers must consult with the City of Winnipeg’s planning department for specific permitted uses and development requirements.

2. Why is the assessed value so much lower than some nearby properties?
The assessed value reflects the property as a vacant industrial lot. Nearby properties with significantly higher assessments (like 14 Sagitta Street) likely have constructed buildings and improvements on them. The value here is in the land itself for future development.

3. Are utilities available to the site?
The listing does not specify utility connections. For any vacant land, it is essential to verify the availability and cost of connecting to municipal water, sewer, natural gas, and electricity, as this can significantly impact development feasibility and budget.

4. What are the property taxes?
Property taxes are calculated based on the assessed value and the municipal tax rate. With an assessed value of $9,400, the annual tax bill would be relatively low, but buyers should confirm the exact amount with the City of Winnipeg for budgeting purposes.

5. Is the land suitable for immediate use, or is site preparation needed?
As a vacant lot, it would require standard site preparation for construction, including grading and potentially environmental due diligence, which is a common step for industrial lands. A site visit and professional assessment are recommended to understand the specific condition and any potential site work required.