Description

Rare Opportunity To Own A Commercial Storefront With A Very Spacious 3-Bedroom Apartment Above! The Upstairs Residential Tenant Is On A Month-To-Month Tenancy. The Main-Floor Commercial Lease Is Expiring Soon, Offering Potential For An End-User Or Owner-Operator, While The Existing Tenant May Be Willing To Stay. The Upper Level May Offer Potential For Conversion To A Live/Work Space Or Two Residential Units, Subject To Applicable Zoning And Required Municipal Approvals. An Excellent Opportunity For Investment, Own Use, Or A Potential Business Transfer. Seller May Consider A Vendor Take-Back Mortgage (VTB), Subject To Buyer Qualification And Mutually Acceptable Terms. (id:66096)

Property Details

MLS®: W13861376
Property Type: Retail
Zoning: CR
Interior Size: 2,376 ft²
Frontage: 18 ft
Building Area: 2,376 ft²
Heating: Baseboard heaters, Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $8,361.3/yr
Listed: 30 days ago

Market Timing

Days on market

30d

Toronto (Stonegate-Queensway) listings, avg age

51d

Price / ft²

$821

List price

$1.95M

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 (Stonegate-Queensway) has been listed for 30 days, which is 21 days fresher than the city average of 51. Act while there is still low competition.

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Area context

Neighbourhood profile (M8Y)

This home lists at $1,950,000, about 21.4× the local median household income of $91,000.

Carrying it typically needs a household income of about $380,903 (20% down, 25-yr amortization, stress-tested) — roughly 319% above the area median.

Median household income: $91,000
Population: 21,986
Median age: 40.8
Owner / renter: 56% / 44%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA M8Y)

$1,950,000· $821/ft²

For sale

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Financing

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Commercial lenders price on income, tenancy, and zoning rather than posted rates. Our partner mortgage brokers at iShopRates structure the file and shop lenders for you.

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621B&C The Queensway, Toronto (Stonegate-Queensway) - Retail for Sale

Description

Property Details

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Market Timing

Location

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Neighbourhood profile (M8Y)

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