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Type: Sale Of Business
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Property Type: Commercial
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Business Type: Restaurant
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Zoning: Commercial
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Age: 16-30 years
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MLS®#: C9418383
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Added: Oct 20, 2024 (1 month ago)
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Updated:
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Last Checked: 10 hours ago
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Listed By: ROYAL LEPAGE/J & D DIVISION
Superb Franchise restaurant opportunity located at King St E & Sherbourne St, heart of downtown Toronto. Features include Restaurant surrounded by George Brown College campus, major offices/banks & condos ensuring strong and stable customer base for lunch + dinner. Great potential for 24/7 operations. Directly connected to TTC, street cars (East/West) and bus service (North/South). Large condo towers by reputed builders: Pemberton - Time & Space 29 storeys complete 1600 condos - occupants moving in, Cityzen & Fernbrook - St Lawrence Condos 26 storeys complete 482 condos -occupants moving in, Menkes - The Whitefield - 39 storeys under construction 470 condos, First Gulf - EQ Bank Tower 23 Floors Exterior complete, working on interiors - anticipated ready to move in by Q1 2025.These developments bringing in estimated 9000+ new customers (in addition to existing customers) within 300m of the restaurant. At least 3 other major developments including Fitzrovia Retirement Homes anticipated to break ground soon within 100 meters of the restaurant; Notice by City of Toronto are up. New LRT is located within walking distance, Scotia Bank & Waddington Auction House located next door; National Bank, RBC, BMO; CIBC, Globe & Mail (Air Miles, Yellow Pages, many more) within 2 minute walk; Coca-Cola National Office and No Frills located within 50 meters; LCBO, Pet Store, Toronto Opera Company, Fire Station within 1 minute. This restaurant has the latest equipment: complete remodel including all equipment: 2 cold wells,1 hot well, 1 proofing & baking unit, 2 toaster ovens, Brand new HVAC unit, LED Lighting, New flooring and walls, seating capacity for up to 32 guests with 2 Toilets (plus small office space). Rapidly developing customer base; average household income of $135,000. Rent frozen for 2yrs and lease good thru 2028 with another option to extend the lease by another 5 yrs. Low TMI. Net Price includes all brand new equipment, furniture, newly installed HVAC, inventory.
Extras
This turnkey ready to move in restaurant presents a rare opportunity for new entrepreneurs (immigrants and citizens alike ensuring long term employment and ownership); Seller open to partnership.
Property
Status: Sale
Type: Restaurant
Property Type: Sale Of Business
Property Type: Without Property
Age: 16-30
Area: Toronto
Community: Moss Park
Availability Date: ASAP
Inside
Bathrooms: 2
Air Conditioning: Y
Washrooms: 2
Utilities
Utilities: No
Building
Basement: N
Heat Type: Elec Forced Air
Elevator: None
Freestanding: N
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2024
Taxes Type: Annual
Land
Cross Street: King St E & Sherbour
Municipality District: Toronto C08
Zoning: Commercial
Commercial Specific
Number of Employees: 4
Retail Area: 1350
Retail Area Metric: Sq Ft
Sprinklers: Y
Hours Open: 12-14
Days Open: 7
Franchise: Y
Tangible Property Included: Y
Lot Code: Unit
Seats: 32
Financial Statement: N
LLBO: N
Downtown Alternative School
Elementary: PublicSt Michael Catholic School
Elementary: CatholicSt Paul Catholic School
Elementary: CatholicÉcole élémentaire Gabrielle-Roy
Elementary: PublicMarket Lane Junior and Senior Public School
Elementary: PublicLord Dufferin Junior and Senior Public School
Elementary: PublicMsgr Fraser College (St. Martin Campus)
Secondary: CatholicNative Learning Centre
Secondary: PublicInglenook Community School
Secondary: PublicSt Michael's Choir (Sr) School
Secondary: CatholicCollège français secondaire
Secondary: PublicJarvis Collegiate Institute
Secondary: Public
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