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$ 3,415,000
Est. payment /mo
Active
388 Spadina AVE Toronto C01, ON M5T 2G5
5,027 SqFt
UPDATED:
01/23/2025 09:46 PM
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 5,027 sqft
Price per Sqft $679
Subdivision Kensington-Chinatown
MLS Listing ID C11934507
Annual Tax Amount $48,213
Tax Year 2024
Property Sub-Type Investment
Property Description
Rare opportunity to secure an institutionally managed commercial asset on one of the busiest stretches of Chinatown, steps to University of Toronto Campus. The property is 100% leased. The ground floor is a fully fixtured restaurant occupied by Rol San Restaurant, a neighbourhood staple and the second floor is Mr. 8 Billiards. The property benefits from landlord termination rights and under market leases. Further upside through future development assembly with multiple development applications submitted in the surrounding area due to future Ontario Line stop to the South. The total building area is 5,027 Square Feet; 3,416 SF Above Grade, plus 1,611 SF of basement space. Priced at a 5.65% cap rate!
Location
Province ON
County Toronto
Community Kensington-Chinatown
Area Toronto
Zoning CR - Commercial Residential
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 18.66
Lot Depth 100.0
Others
Security Features No
Listed by CBRE LIMITED