Overview

This retail property in Toronto is for sale offering roughly 2,831 sq ft of space.

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Description

Exceptional Mixed-Use Investment & Redevelopment Opportunity! Fully leased with strong, stable income and a cap rate at 6.6% this prime commercial property offers immediate cash flow and outstanding future upside. Featuring two fully leased street-front commercial units, rear laneway access, basement, rear parking, and 26.18 ft frontage, this is an ideal asset for investors and developers alike. Located just steps to Eglinton West Subway Station, GO Transit, and the Eglinton Crosstown LRT, the property is situated in one of Toronto's fastest-growing transit-oriented communities. Excellent redevelopment potential with a proposed 10-storey mixed-use building, featuring approximately 19 residential units plus ground-floor commercial space, with over 14,000 sq. ft. of proposed GFA, subject to municipal approvals. Located within a Major Transit Station Area (MTSA), offering exceptional long-term growth and value. (id:66096)

Property Details

MLS®: W13560808
Property Type: Retail
Zoning: Commercial
Interior Size: 2,831 ft²
Lot Size: 26 × 108 ft (2,831 sq ft)
Frontage: 26 ft
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $11,537.22/yr
Listed: 113 days ago

Market Timing

Days on market

113d

Toronto (Briar Hill-Belgravia) listings, avg age

66d

Price / ft²

$565

List price

$1.60M

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 (Briar Hill-Belgravia) is available now. Want me to connect you with the agent or keep you posted on any price updates?

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Area context

Neighbourhood profile (M6E)

This home lists at $1,599,000, about 19.5× the local median household income of $82,000.

Carrying it typically needs a household income of about $312,341 (20% down, 25-yr amortization, stress-tested) — roughly 281% above the area median.

Median household income: $82,000
Population: 37,684
Median age: 40.8
Owner / renter: 55% / 45%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA M6E)

$1,599,000· $565/ft²

For sale

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Financing

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1602 Eglinton Avenue West, Toronto (Briar Hill-Belgravia) - Retail for Sale

Description

Property Details

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Market Timing

Location

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Neighbourhood profile (M6E)

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