56 West Street, Port Colborne, ON
L3K 4C8
Listed May 15, 2026
About this property
Attention Investors - Great waterfront opportunity! Situated along the canal-side Promenade in downtown Port Colborne, 'Cornerstone Guest Suites' is a charming and beautifully restored 5-unit (5,000 sq.ft.) property offering exceptional versatility and investment potential. This remarkable building could be converted into condos, boutique hotel, commercial use or continue operating as an apartment building or five guest suites. The top floor features an impressive 1,160 sq. ft. penthouse suite with breathtaking panoramic views of the canal and lake - ideal for owner to occupy. With potential for a boutique hotel, commercial space on the main level and residential rentals on the upper floors, this property offers endless possibilities. Future expansion or redevelopment opportunities add even more value. A rare chance to own a prime waterfront location where ships from around the world glide past your window. Set your own rents for units 1 & 5 (currently being used as short term rentals).
Features
Property Details
Listing
Property
Location
Taxes & Financials
Cost of Ownership Calculator
What it could cost each month to own 56 West Street — mortgage, property taxes, fees, insurance, utilities and upkeep. Change any number to match your situation.
Your mortgage
$399,000 · Minimum $399,000
Use the rate your lender or broker quotes you.
Monthly costs
From the listing (2025 tax bill).
Leave at $0 if there isn't one.
Typical for this kind of home.
Hydro, heating, water and sewer.
About 1% of the price a year, set aside.
One-time costs
A typical estimate — your lawyer will confirm.
Estimated monthly cost of ownership
$11,692/mo
About $140,304 a year
- $8,825
- $749
- Home insurance$125
- Utilities$330
- Maintenance & repairs$1,663
Cash needed to close
- Down payment (20%)
- $399,000
- Ontario land transfer tax
- $36,375
- Legal fees, title insurance & inspectionEstimate
- $2,500
- Total
- $437,875
Estimates only — not a mortgage approval, quote or tax advice. Payments assume a fixed rate compounded semi-annually; minimum down payments, mortgage insurance and land transfer tax follow current CMHC and Ontario rules. Insurance, utilities and upkeep are typical figures for the area. Your lender, lawyer and insurer will confirm your exact costs.
Location & Walkability
56 West Street, Port Colborne, ON
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Last Updated: May 15, 2026
Listing Office: ROYAL LEPAGE NRC REALTY
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