$2,350,000

For sale

246 Spadina Avenue, Toronto (Kensington-Chinatown) - Retail for Sale

246 Spadina Avenue, Toronto (Kensington-Chinatown), Ontario, M5T2C2

5 parking5,000 ft²Listed 44 days ago

Overview

This retail property in Toronto is for sale offering roughly 5,000 sq ft of space. It has been on the market 44 days, fresher than the Toronto average of 81 days.

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Description

Exceptional mixed-use opportunity at 246 Spadina Ave, Toronto! This prominent property features a spacious main storefront of over 2,000 sq. ft., offering excellent flexibility for a variety of retail, commercial, office, showroom, or service uses. The property also includes a recently updated 2-bedroom apartment with 2.5 washrooms, providing comfortable residential accommodation or additional income potential. Enjoy the added convenience of ample parking at the rear, a valuable feature in this central Toronto location. With a strong combination of commercial space, residential accommodation, parking, and prominent street presence, this property offers a unique opportunity for an owner-user or investor. Seller is open to considering Vendor Take-Back (VTB) financing for qualified buyers, subject to mutually acceptable terms. A versatile property with tremendous potential and multiple possibilities. Great opportunity awaits the right buyer! (id:66096)

Property Details

MLS®: C13812010
Property Type: Retail
Zoning: CR5(c2.5;r4*2340),CR5(c2.5;r4*2346)
Parking: 5
Interior Size: 5,000 ft²
Frontage: 17 ft
Building Area: 5,000 ft²
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $23,679/yr
Listed: 44 days ago

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

44d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$470

List price

$2.35M

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 (Kensington-Chinatown) has been listed for 44 days, which is 37 days fresher than the city average of 81. Act while there is still low competition.

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Listed by CENTURY 21 REGAL REALTY INC. · HORACE OMAR DOCKERY

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5T)

This home lists at $2,350,000, about 38.1× the local median household income of $61,600.

Carrying it typically needs a household income of about $459,037 (20% down, 25-yr amortization, stress-tested) — roughly 645% above 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)

$2,350,000· $470/ft²

For sale

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Financing

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