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.
Address
588 Danforth Avenue
List Price
$2,389,000
MLS® Status
New
Expiration Date
2026-01-20
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Toronto E03
Sub-Area
Playter Estates-Danforth
Region
Toronto
Bathrooms
5
Lot Depth
120
Lot Type
Building
Lot Size Units
Feet
Lot Width
16
Parcel Number
104030456
Total Building Area
2700
Occupant Type
Tenant
Cross Street
West Of Pape Ave
MLS® Number
E12469823
Listing Brokerage
RE/MAX REALTRON REALTY INC.
Basement
Yes
Postal Code
M4K 1R1
Posession Details
Flexible
Parking Spaces
2
Tax Amount
$34,858.00
Tax Year
2025
Site Influences
Public Transit, Subways
Community Features
Public Transit, Subways
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Gas Forced Air Open
Cooling Features
Yes
Garage Type
Outside/Surface
Security Features
Yes