$ 5,500,000
167 Queen ST E Toronto C08, ON M5A 1S2
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$ 5,500,000
Est. payment /mo
Price Dropped by $250K
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
Interior
Heating Yes
Cooling No
Exterior
Utilities Available Yes
Parking Type None
Others
Security Features No
Listed by AVION REALTY INC.