A 7.7-hectare lot located in the quiet village of Shrewsbury, Ontario is currently on sale for a real bargain, but there's a reason for its affordable price: it's entirely underwater.

The lot, located on Brock Street on the Canadian side of Lake Erie, is listed on Realtor.ca without an actual address. And the photo associated with the listing simply shows a parking lot, a dock and the lake.

"This property is presently under water but could have endless possibilities in the future," reads the listing. "Be creative."

What exactly those possibilities are, however, remains unknown.

But while the price may seem questionable knowing that it doesn't actually get you any above-ground land, it's far from surprising considering Canada's housing market is booming and the national average home price is currently $688,000.

And though underwater lots aren't particularly common in Canada, they can be used to store logs, boats/water vessels or even fish farms.

Mooring a houseboat or floating home is also an option but would be difficult in this case, as it doesn't actually have any land access.