Free-standing investment property with prime exposure on Highway 7. Former Tom's Burgers with many permitted uses. 1,800 sf main floor plus 1,500 sf basement. Clean environmental done in 2020. Currently leased to a top brand franchise. Tenant willing to stay or will consider selling the business if purchaser wants vacant possession. Current lease until June 2032 with escalations, with two - 5 year options to renew with strong franchise covenants. New roof shingles, downspouts, all new electrical, and main floor flooring installed in 2022.
Address
5775 Highway 7 E
List Price
$2,498,000
MLS® Status
New
Expiration Date
2026-12-31
Property Type
Commercial
Type of Dwelling
Commercial Retail
Transaction Type
Sale
Area
Markham
Sub-Area
Bullock
Region
York
Lot Depth
212
Lot Type
Unit
Lot Size Units
Feet
Lot Width
50
Parcel Number
029160428
Total Building Area
1800
Occupant Type
Vacant
Cross Street
Hwy 7/Ovida
MLS® Number
N13025874
Listing Brokerage
HOMELIFE/BAYVIEW REALTY INC.
Basement
Yes
Postal Code
L3P 1A5
Posession Details
Immediate
Tax Amount
$21,002.37
Tax Year
2025
Site Influences
Major Highway, Public Transit
Community Features
Major Highway, Public Transit
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heating
Yes
Heat Type
Gas Forced Air Closed
Cooling
Yes
Cooling Features
Yes
Garage Type
Outside/Surface
Tax Legal Description
Pl 3252 E Pt Lt 5
Security Features
No