338 Spadina Avenue, Toronto (Kensington-Chinatown) - Business for Sale
338 Spadina Avenue, Toronto (Kensington-Chinatown), Ontario, M5T2G2
This business in Toronto is for sale offering roughly 2,000 sq ft of space. It has been on the market 58 days, fresher than the Toronto average of 81 days.
Description
Excellent Opportunity to Own a Well-Established Restaurant in Chinatown! Prime high-traffic location with excellent exposure and a large outdoor billboard sign. This long-established Chinese restaurant has been successfully operating for approximately 30 years and enjoys a loyal customer base. Fully equipped commercial kitchen suitable for a variety of cuisines, featuring a walk-in cooler and freezer, plus a basement for additional storage. 77 Seats LLBO licensed. Seller is retiring and willing to provide training to ensure a smooth transition. A rare opportunity to take over a proven restaurant business in a highly visible location with excellent potential for continued growth! (id:66096)
Property Details
- MLS®
- C13750992
- Property Type
- Business
- Business Type
- Restaurant
- Zoning
- Commercial
- Interior Size
- 2,000 ft²
- Building Area
- 2,000 ft²
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
- Property Tax
- $16,800/yr
- Listed
- 58 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Long Listed: 58 days on market, against an average age of 81 days across the listings currently for sale in this city
Homes here sell faster than most markets
Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell below asking price
Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.
This business in Toronto (Kensington-Chinatown) has been listed for 58 days, which is 23 days fresher than the city average of 81. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (M5T)
This home lists at $199,000, about 3.2× the local median household income of $61,600.
Carrying it typically needs a household income of about $38,872 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.
- Median household income
- $61,600
- Population
- 17,903
- Median age
- 36
- Owner / renter
- 32% / 68%
- Avg. household size
- 1.9
Source: Statistics Canada, 2021 Census (FSA M5T)
Book a showing
Pick a time that suits you. A verified local agent confirms within 24h.
Buying this business?
Acquisition financing works differently from a property mortgage. Tell our partner brokers at iShopRates what you are buying and they will come back with options.
Ask about acquisition financing →
$199,000
Toronto