391 Lumsden Avenue
Toronto E03, ON M4C 2L6
Price
$1,880,000
Building Size
6,114 sq ft
MLS# E13533576 | Listed by CITY PLUS REALTY INC.
Business Details
Property Use
Retail
Commercial Space & Financials
Taxes (Annual)
$17,071.52
Industrial Specifications
Parking
10 spaces (Outside/Surface)
Lot Size
45.58' × 134'
Structure
Freestanding
Property Description
Owned by the same owner since 1977, this is one of the very few long-established commercial freehold properties remaining in a high-density residential neighborhood surrounded by apartment buildings. The property is strategically located on the corner of Lumsden Avenue and Barrington Avenue. It features approximately 2,300 sq. ft. of above-grade commercial space plus a full basement, situated on a 6,114 sq. ft. lot. The property is currently leased to a stable tenant under a Net Lease expiring in March 2030, generating a rental income of $5,600/month Net Rent plus $1,500/month TMI, providing immediate and reliable cash flow for investors. An additional advantage is that the current owner also owns the adjacent property, creating a potential future assembly opportunity. For developers or long-term investors, this could represent an excellent redevelopment opportunity in the future, subject to applicable approvals.
Price & Status History
Price history is locked
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Listing Courtesy of: CITY PLUS REALTY INC.
This listing is provided through the TRREB MLS® System. Contact the listing brokerage for more information.
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