ON > Toronto C08
Toronto C08, ON M5A 1S2,167 Queen ST E
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Toronto C08, ON M5A 1S2,167 Queen ST E
Toronto C08, ON M5A 1S2,167 Queen ST E
Toronto C08, ON M5A 1S2,167 Queen ST E
Toronto C08, ON M5A 1S2,167 Queen ST E
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Jeff Somlo

Jeff Somlo

+1(647) 998-3693
$ 5,500,000
Est. payment /mo
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167 Queen ST E Toronto C08, ON M5A 1S2

6,390 SqFt

UPDATED:

10/06/2024 01:49 PM

Key Details

Property Type Commercial

Sub Type Store W Apt/Office

Listing Status Active

Purchase Type For Sale

Square Footage 6,390 sqft

Price per Sqft $860

MLS Listing ID C9296037

Annual Tax Amount $18,766

Tax Year 2023

Property Description

This end-unit commercial property at Queen St. East & Jarvis presents an unparalleled opportunity for developers, investors, and business owners. With Manor Variance approved and high-density rezoning potential, this property is poised for significant growth.The 3-story building features ground-floor retail/office space, five residential units on the upper floors, and a spacious basement with 1,735 sq ft of storage. Architectural plans are in place to transform the property, converting the 2nd and 3rd floors into 10 hotel rooms, adding a personal service shop in the basement, and incorporating an exterior amenity space on the third floor.Located directly across from Moss Park and just steps from the upcoming Ontario Line station, this property is ideally situated for high-rise, mixed-use redevelopment.Financial Highlights:Projected Current Net Operating Income (NOI): Over $210K/year (based on existing structure)Projected Post-Renovation NOI: Over $580K/year (from short-term hotel units and two commercial spaces)Dont miss this rare opportunity to acquire a prime property in one of Torontos most rapidly developing areas. Whether you're looking to invest, redevelop, or create a new mixed-use project, this property offers endless possibilities and exceptional value.

Location

Province ON

County Toronto

Community Moss Park

Area Toronto

Region Moss Park

City Region Moss Park

Interior

Heating Yes

Cooling No

Exterior

Utilities Available Yes

Others

Security Features No

Listed by AVION REALTY INC.
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167 Queen ST E