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$ 3,599,000
Est. payment /mo
Price Dropped by $100K
242 Queen ST W Toronto C01, ON M5V 1Z7
3,870 SqFt
UPDATED:
01/30/2025 09:38 PM
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,870 sqft
Price per Sqft $929
Subdivision Kensington-Chinatown
MLS Listing ID C9385881
Annual Tax Amount $40,125
Tax Year 2024
Property Sub-Type Commercial Retail
Property Description
Landmark investment opportunity in the heart of Toronto's vibrant Queen W shipping district. Direct sightlines to Bell Media HQ for premium visibility & foot traffic. Retail is leased to Dragon Vape, Canada's largest e-cigarette retailer, w. flexible mid-length lease, historically the retail space has attracted notable tenants including: John Fluevog & Wine Rack @ premium retail rents. Upper levels feature two large semi-attached 3-bedroom apts. Flexibility to reconfigure the existing resi units for large lift on rents. All residential leases month-to-month. Well-maintained building. Size does not include high & dry basement. Large rear parking area + double-door shipping. Significant potential for expansion with unused lot area. All leases are below market rent & feature flexible term-a compelling opportunity for value-add through lease adjustments & strategic repositioning. Residential leases are below market & month-to-month. 2 self-contained units. 3rd floor is currently accessed via 2nd floor unit. Potential to combine as large 2 floor 6 bed apt or reconfigure. Large single storey rood deck at rear. Charming heritage building. Landlord may have mechanism to provide an end user purchaser with vacant possession of the retail unit.
Location
Province ON
County Toronto
Community Kensington-Chinatown
Area Toronto
Zoning CR3(c2;r2*2387)
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 17.06
Lot Depth 120.0
Others
Security Features Partial
Listed by CUSHMAN & WAKEFIELD