388 Spadina Ave, Toronto, M5T 2G5

Listing Overview

Description

Rare opportunity to secure an institutionally manage commercial asset on ne of the busiest stretches of Chinatown, steps to University of Toronto Camps. The ground floor is fully fixtured restaurant occupied by Rol San Restaurant, a neghbourhood staple who recently extended their lease. The second floor is vacant and provides a buyer the opportunity to add significant value or occupy it as an end user. Potential NOI is $198,754 which translates to a 6.4% cap rate. The property benefits from landlord termination rights. Further upside through future development assembly with multiple development applications submitted in the surrounding area due to future Ontario Line stop to the South. The total building area is 5,027 Square Feet; 3,416 SF Above Grade, plus 1,611 Sf of basement space.

2 days

On Market

Commercial/Retail

Property Type

$49,232 / Year

Est. Taxes

Retail

Style

-

Business Type

-

Franchise