Just steps from one of the most exciting transformations in Wasaga Beach! Beach Area 1 is undergoing a major multi-million-dollar redevelopment, including a premium hotel with upscale dining, spa, event facilities, and a vibrant Festival Square for year-round entertainment. A new mixed-use community with 150+ residential units and 30+ commercial spaces is also planned-making this location a prime opportunity for investors.One of this property's greatest advantages is its versatile zoning: it allows short-term rentals and an impressive range of commercial uses-ideal for a charming bed & breakfast, artisan bakery, medical office, catering kitchen, hospitality venture, restaurant, or even the addition of a second suite. The possibilities are truly endless in this rapidly developing pocket of Wasaga Beach.Inside, this cozy 2-bedroom, 1-bathroom bungalow is warm and inviting, updated with brand-new flooring, a new toilet, smart thermostat, and key mechanical upgrades that add long-term value. The roof, furnace, and electrical were all updated in 2012, and the furnace was professionally serviced in November 2025-offering peace of mind for years to come. The open-concept living room flows into the bright eat-in kitchen, featuring modern cabinetry, generous storage, and convenient access to the laundry room and backyard.Both bedrooms are comfortable and filled with natural light, with a well-designed family bathroom close by. Outside, the fully fenced yard features low-maintenance cobblestone surfacing-perfect for BBQs, campfires, or unwinding under the stars. A detached 23x19 shop with a man door adds incredible versatility for storage, hobbies, or a workshop.Don't miss this chance to own a flexible investment property in one of the highest-potential areas of Wasaga Beach-just a short walk to Beach 1 and the future waterfront redevelopment. This property is video monitored.