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242 Queen St W
Toronto, ON M5V 1Z7
Retail Property For Sale
Investment Highlights
- Located on the most renowned block of Queen West, across from the Bell Media HQ, with best in class foot traffic and visibility
- The property offers the opportunity to increase the retail rent by releasing the space to a new tenancy, hence adding value.
- Stable and care free going in net income, with long standing & credit worthy tenants.
- The two residential suites are fully leased below current market rates and on a month-to-month basis.
Executive Summary
Situated on one of the busiest and most sought-after blocks of Queen Street West, 242 Queen Street West boasts a premier location in Toronto’s most vibrant retail and entertainment district. This three-storey mixed use property benefits from high volumes of pedestrian and vehicular traffic, making it a sought after destination for retailers and residential tenants alike. Situated directly across from Bell Media’s headquarters (think live TV exposure) and surrounded by world class retail tenants, 242 Queen St West is strategically positioned in a well established, high-density area, only poised for more growth. Queen Street West is renowned for its trendy, eclectic atmosphere, combining modern culture with heritage architecture, and 242 Queen is a prime example of the neighborhood’s charm.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,610 SF
Building Class
C
Year Built
1881
Price
$3,299,000 CAD
Price Per SF
$588.06 CAD
Cap Rate
4.50%
NOI
$148,364 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.58
Lot Size
0.05 AC
Zoning
CR3(c2;r2*2387) - Commercial Residential
Frontage
21’ on Queen St
Amenities
- Bus Line
- Signage
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