$2,500,000

For sale

151 Roncesvalles Avenue, Toronto (Roncesvalles) - Retail for Sale

151 Roncesvalles Avenue, Toronto (Roncesvalles), Ontario, M6R2L3

3 parking3,500 ft²19 × 115 ft (2,185 sq ft) lot sizeListed 19 days ago

Overview

This retail property in Toronto is for sale offering roughly 3,500 sq ft of space. It has been on the market 19 days, fresher than the Toronto average of 45 days.

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Description

Something special is for sale right in the heart of Roncesvalles! Calling all investors, end-users, and everyone in-between! Here's the opportunity of a lifetime to buy into a completely turnkey 3-storey commercial/residential building in bustling Roncesvalles village. This is the kind of building that is passed down through family legacies. Boasting 1,141 square feet of fully utilized premium main floor retail space, plus additional space in the basement with good ceiling height. Upstairs find two nearly-1,200 square-foot New York-style apartments that have both been renovated while maintaining lots of their original character and charm thanks to their position in this classic Edwardian-era building. The main floor is an established business that has been a Roncy staple for nearly 10 years with loyal clientele and local presence. The upstairs residential long-term tenants are stable and easy to work with. This building offers a gross income of over $150K/year, a net income of $131K/year, plus an over 5 cap rate of return for investors. Take your investment portfolio to the next level with 151 Roncesvalles Avenue! (id:66096)

Property Details

MLS®: W14087314
Property Type: Retail
Zoning: CR 2.5 (c1.0; r2.0) SS2 (x1792)
Parking: 3
Interior Size: 3,500 ft²
Lot Size: 19 × 115 ft (2,185 sq ft)
Frontage: 19 ft
Heating: Forced air, Natural gas, Radiator
Cooling: Fully air conditioned
Property Tax: $14,945/yr
Listed: 19 days ago

Features

Appliances: Washer, Dishwasher, Dryer

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

19d

Toronto (Roncesvalles) listings, avg age

45d

Price / ft²

$714

List price

$2.50M

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.

Haho

This retail in Toronto (Roncesvalles) has been listed for 19 days, which is 26 days fresher than the city average of 45. Act while there is still low competition.

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Listed by REMAX YOUR COMMUNITY REALTY · CHRISTOPHER WANNAMAKER

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M6R)

This home lists at $2,500,000, about 24.0× the local median household income of $104,000.

Carrying it typically needs a household income of about $488,338 (20% down, 25-yr amortization, stress-tested) — roughly 370% above the area median.

Median household income: $104,000
Population: 19,349
Median age: 39.2
Owner / renter: 51% / 49%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA M6R)

$2,500,000· $714/ft²

For sale

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Financing

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