$4,500,000

For sale

502 Queen Street West, Toronto (Kensington-Chinatown) - Retail for Sale

502 Queen Street West, Toronto (Kensington-Chinatown), Ontario, M5V2B3

3,070 ft²15 × 122 ft (1,852 sq ft) lot sizeListed 74 days ago

Overview

This retail property in Toronto is for sale offering roughly 3,070 sq ft of space. It has been on the market 74 days, fresher than the Toronto average of 81 days.

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Description

Prime Queen Street West Restaurant Opportunity. Discover an exceptional turnkey restaurant opportunity in the heart of Toronto's highly sought-after Queen West neighborhood, ideally located between Spadina Avenue and Bathurst Street. The space is fully built out and professionally fitted as a turnkey restaurant, allowing an incoming operator to open with minimal additional investment. All owned equipment, fixtures, and essential restaurant infrastructure are included in the sale. The property has been exceptionally well maintained and features numerous upgrades over the years, including a full building sprinkler system and an upgraded gas line. Rear lane access offers convenient loading and servicing, enhancing day-to-day restaurant functionality. Current status: Leased through July 2027. The buyer must assume the tenant for the remaining lease term. Don't miss this chance to join one of Toronto's most vibrant and desirable commercial districts. (id:66096)

Property Details

MLS®: C13704106
Property Type: Retail
Zoning: CR3(c2;r2*1385)
Interior Size: 3,070 ft²
Lot Size: 15 × 122 ft (1,852 sq ft)
Frontage: 15 ft
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $48,000/yr
Listed: 74 days ago

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

74d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$1,466

List price

$4.50M

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 (Kensington-Chinatown) has been listed for 74 days, which is 7 days fresher than the city average of 81. Act while there is still low competition.

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Listed by RE/MAX ACE REALTY INC. · PRATHEEP KUMARIAH

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5V)

This home lists at $4,500,000, about 49.5× the local median household income of $91,000.

Carrying it typically needs a household income of about $879,008 (20% down, 25-yr amortization, stress-tested) — roughly 866% above the area median.

Median household income: $91,000
Population: 59,912
Median age: 32
Owner / renter: 42% / 58%
Avg. household size: 1.6

Source: Statistics Canada, 2021 Census (FSA M5V)

$4,500,000· $1,466/ft²

For sale

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Financing

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