$3,150,000

For sale

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

512 Queen Street, Toronto (Kensington-Chinatown), Ontario, M5V2B3

4 baths5,819 ft²Listed 696 days ago

Overview

This retail property in Toronto is for sale offering roughly 5,819 sq ft of space.

Retail Space for Sale in Toronto →All real estate in Toronto →

Description

*** Visit the REALTOR website for further information about this Listing *** This 3 storey Victorian property is located on the preferred north side and at the heart of trendy Queen St West. It sits between Spadina Ave and Bathurst St at the top of Portland St., and is across the street from Loblaws and Joe Fresh. The building has 15.75ft of prime frontage with high ceilings. A successful restaurant/bar business has operated here for at least 6 decades and the building features 2 floors with 3 licensed rooms and 2 licensed patios. Public washrooms are in the basement. The 3rd floor has 3 offices and a washroom. The total usable size of the property is 5,819 sq./ft. including the patios and basement. This property will be highly attractive to investors due to its stable and reliable potential income, attractive location, and huge foot traffic in the area. The area is well served by TTC streetcar lines on both Queen and Bathurst streets and the upcoming Ontario Subway Line with a stop at Queen and Spadina. The property was renovated in the early 1980's and the front facade was restored in 2008 in accordance with requirements of the Toronto Historical Board. The building has a liquor licence for 133 people. (id:66096)

Property Details

MLS®: C11885935
Property Type: Retail
Zoning: CR3
Bathrooms: 4
Interior Size: 5,819 ft²
Frontage: 16 ft
Building Area: 5,819 ft²
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $42,284.47/yr
Listed: 696 days ago

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

696d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$541

List price

$3.15M

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

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Listed by EASY LIST REALTY LTD. · SOPHIE ALEGRA GITERMAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5V)

This home lists at $3,150,000, about 34.6× the local median household income of $91,000.

Carrying it typically needs a household income of about $615,305 (20% down, 25-yr amortization, stress-tested) — roughly 576% 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)

$3,150,000· $541/ft²

For sale

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