242 Queen Street For Sale

Toronto, Kensington-Chinatown, M5V 1Z7

$3,699,000

Description

Listed by CUSHMAN & WAKEFIELD.

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.

Location

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  • Address: 242 Queen Street
  • Neighborhood: Kensington-Chinatown
  • City: Toronto
  • State: Ontario
  • Postal Code: M5V 1Z7

Property Details

  • Property ID: C9385881
  • Property Price: $3,699,000
  • Style: Commercial/Retail, Multi-Use
  • Garage: Lane
  • A/C: Part
  • Basement: Y
  • Heating: Gas Forced Air Open
  • Taxes: $40,125.43 (2024)
  • Lot: 120.00x17.06 (Feet)

Property History

This property has been sold 2 times before. To view this property's sale price history please sign in or register:


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Contact Manoj Kukreja

Sales Representative, Re/max Premier Inc., Brokerage
(647) 576 - 2100

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