167 QUEEN STREET E, Toronto, Ontario
$5,500,000
- 6,390 Square Feet
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. (id:23309)
- Listing ID: C9296037
- Property Type: Retail
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 167 QUEEN STREET E in Toronto Ontario. It was last modified on September 3rd, 2024. Contact Scott Brubacher to schedule a viewing or to discover other Toronto real estate for sale.