588 Danforth Avenue, Toronto, ON M4K 1R1

About this property

Turn-key investment opportunity on Danforth Avenue, just one block west of Pape Avenue in the heart of Toronto's vibrant Danforth community. This fully renovated and extended three-level commercial building (with an approximately 37 ft addition completed in 2011) offers a stable, income-generating opportunity with excellent long-term tenants. The main floor features a franchise restaurant with a strong lease in place with 2 extensions, where the tenant pays for property taxes, insurance, utilities, and maintenance, with the owner covering a modest balance of approximately $1,000 per month. The upper level is occupied by reputable professional businesses, contributing to a polished, business-friendly atmosphere. The property has been upgraded throughout, including a 400 AMP / 3-phase hydro service with complete rewiring of the entire building, There are two separate heated basements each with its own washroom, individual electrical panels for each unit, a new plumbing system installed for the entire building with new APEX water lines, new fixtures & New Drains., new floor joists & subfloors on the entire second floor, with installed & insulated with fire proof & sound proof insulation. Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear. A truly turn-key property requiring no repairs, ideally suited for investors seeking a prime commercial asset in a high-traffic, high-visibility Danforth location.

Property facts & features

Property type

Store W Apt/Office

MLS® number

E13766972

Source status

New

Bedrooms

Not provided

Bathrooms

5

Reported interior area

2700

Neighbourhood

Not provided

Postal code

M4K 1R1

Garage

Outside/Surface

Lot depth (source units)

120

Annual property tax

34858

Basement

Not provided

Laundry

Not provided

Interior features

Not provided

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

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Property value & listing history

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Location & neighbourhood

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