Crescent Town, M4C 2L6
Description
Owned by the same owner since 1977, this is one of the very few long-established commercial freehold properties remaining in a high-density residential neighborhood surrounded by apartment buildings. The property is strategically located on the corner of Lumsden Avenue and Barrington Avenue. It features approximately 2,300 sq. ft. of above-grade commercial space plus a full basement, situated on a 6,114 sq. ft. lot. The property is currently leased to a stable tenant under a Net Lease expiring in March 2030, generating a rental income of $5,600/month Net Rent plus $1,500/month TMI, providing immediate and reliable cash flow for investors. An additional advantage is that the current owner also owns the adjacent property, creating a potential future assembly opportunity. For developers or long-term investors, this could represent an excellent redevelopment opportunity in the future, subject to applicable approvals.
Features
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Category:
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Total Area: 6,114 sqft
- Total Parkings: 10
- Parking Types: Outside/Surface
Details
- Zoning: GeneralAgricultural
- Tax: $ 17,072
- Alcohol Allowed: N
- E13533576
- Listing contracted with: CITY PLUS REALTY INC.
