Jag Patel
Broker
$1,880,000
Available - For Sale
Listing ID: E13533576
391 Lumsden Avenue , Toronto, M4C 2L6, Toronto
| 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 | $1,880,000 |
| Taxes: | $17071.52 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 391 Lumsden Avenue , Toronto, M4C 2L6, Toronto |
| Postal Code: | M4C 2L6 |
| Province/State: | Toronto |
| Directions/Cross Streets: | LUMSDEN AND BURRINGTON |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Retail |
| Building Percentage: | T |
| Total Area: | 6114.00 |
| Total Area Code: | Square Feet |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Yes |
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| CITY PLUS REALTY INC. |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Toronto |
| Municipality: | Toronto E03 |
| Neighbourhood: | Crescent Town |
| Tax: | $17,071.52 |
| Fireplace: | N |
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