242 Queen Street West, Toronto | Image 1

242 Queen Street West

Toronto, Kensington-Chinatown

  • Commercial

$X,XXX,XXX
For Sale

Added 6 months ago

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  • Type: Commercial/Retail

  • Property Type: Commercial

  • Zoning: CR3(c2;r2*2387)

  • Age: No Data

  • Taxes: 40125.43

  • MLS®#: C9385881

  • Days on Site: 119 Days

  • Added: Oct 03, 2024 (6 months ago)

  • Updated:

  • Last Checked: 1 month ago

  • Listed By: CUSHMAN & WAKEFIELD

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.

Property

  • Status: Sale

  • Property Type: Commercial/Retail

  • Property Type: Multi-Use

  • Area: Toronto

  • Community: Kensington-Chinatown

  • Availability Date: Immediate

Inside

  • Air Conditioning: Part

Utilities

  • Utilities: Yes

Building

  • Basement: Y

  • Heat Type: Gas Forced Air Open

  • Elevator: None

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: Lane

Fees

  • Tax Year: 2024

  • Tax Legal Description: PT PARKLT 13 CON 1 FTB TWP OF YORK AS IN CA105297; CITY OF TORON

  • Taxes: $40,125

  • Taxes Type: Annual

Land

  • Cross Street: Queen Street W betwe

  • Municipality District: Toronto C01

  • Parcel Number: 212070067

  • Sewer: San+Storm

  • Lot Depth: 120 Feet

  • Lot Frontage: 17.06 Feet

  • Zoning: CR3(c2;r2*2387)

Commercial Specific

  • Shipping Doors Drive In Level: 1

  • Shipping Doors Double Man: 1

  • Retail Area: 1570

  • Retail Area Metric: Sq Ft

  • Sprinklers: Part

  • Total Area: 3870

  • Total Area Metric: Sq Ft

  • Office Size: 2300

  • Office Size Metric: Sq Ft

  • Lot Code: Lot

Map of 242 Queen Street West, Toronto
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