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242 Queen Street Image 1

$3,499,000

$3,599,000
2.8% dropped

Last price change Mar 28

Oct 7, 2024Commercial Retail For Sale
bedroomsbed
washrooms0bath
MLS - #C9385881

242 Queen Street, Toronto C01, ON M5V 1Z7

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Average Price
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Price Comparison

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Property Description

Property type

Commercial Retail

Lot size

N/A

Style

Approx. Area

N/A

About 242 Queen Street

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.

Home Overview

Last updated

Mar 28

Virtual tour

None

Basement information

Building size

3870

Status

In-Active

Property sub type

Commercial Retail

Maintenance fee

$N/A

Year built

--

Listed by CUSHMAN & WAKEFIELD

Additional Details

Basement:N/A
Cooling:Partial
Heating:Gas Forced Air Open
Parking Features:N/A

MORTGAGE INFO

ESTIMATED PAYMENT

$0 Principal and Interest
$0 Property Taxes

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