Overview

This retail property in Toronto is for sale offering roughly 300 sq ft of space. It has been on the market 12 days, fresher than the Toronto average of 81 days.

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Description

Prime Commercial Investment Opportunity in the Heart of Downtown Toronto's Chinatown! Own a well-located commercial unit in one of Chinatown's largest indoor shopping malls. This 300 sq. ft. concourse-level unit enjoys great exposure, ideally positioned beside the mall entrance at the prominent corner of Spadina Avenue and Sullivan street. Surrounded by a vibrant mix of retail, office and service businesses, the unit benefits from consistent pedestrian traffic. The presence of neighbouring established businesses help attract visitors. An excellent opportunity for an investor seeking an affordable downtown commercial property. This unit offers a low carrying costs for ownership in a prime downtown location. Adding to the property's appeal, the planned Ontario Line Chinatown Station is expected to be near by, just a short walk away, further enhancing neighbourhood accessibility and long-term investment potential. Property is currently tenanted. NOI of $18, 000.00 annually. (id:66096)

Property Details

MLS®: C14111544
Property Type: Retail
Zoning: C1
Interior Size: 300 ft²
Heating: Forced air, Natural gas
Cooling: Partially air conditioned
Garage: Underground
Property Tax: $1,799/yr
Listed: 12 days ago

Market Timing

Days on market

12d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$483

List price

$145K

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 12 days, which is 69 days fresher than the city average of 81. Act while there is still low competition.

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Area context

Neighbourhood profile (M5T)

This home lists at $145,000, about 2.4× the local median household income of $61,600.

Carrying it typically needs a household income of about $28,324 (20% down, 25-yr amortization, stress-tested) — within reach of 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)

$145,000· $483/ft²

For sale

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Financing

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#C8 222 Spadina Avenue, Toronto (Kensington-Chinatown) - Retail for Sale