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$ 3,250,000
Est. payment /mo
New
31 Atlantic AVE Toronto C01, ON M6K 3E7
4 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Municipality Toronto C01
Subdivision Niagara
MLS Listing ID C13248374
Annual Tax Amount $29,024
Tax Year 2025
Property Sub-Type Commercial Retail
Property Description
Main floor and mezzanine income is $7506 plus utilities (water, waste management, gas and hydro)and HST. Original term ends on October 31,2026. Plus a 5 year option. It is leased to Liberty Grace Church. They are willing to stay and renew for another 5 years. They were looking to buy the property but unfortunately cannot come up with a down payment of 30%.Upper floor income was $5237 plus utilities (water, waste management, gas and hydro) and HST. Currently vacant and being painted, replacing windows and washroom.Tony has not leased the upper unit in case a potential buyer needs the space.Potential income from renting north wall for advertising according to Grassroots Advertising: $36,000 per year as per their offer to lease. Again Tony is holding off leasing as he prefers to sell the property.Seller pays property tax; $29,507.47(2025). The main floor is leased to a church and may qualify for a property tax exemption although the current owner has not applied for it.Seller pays property insurance $6,025.32.
Location
Province ON
County Toronto
Community Toronto C01
Area Toronto
Interior
Cooling Yes
Exterior
Utilities Available Available
Lot Frontage 27.49
Lot Depth 103.9
Others
Security Features No
ParcelsYN No
Listed by RE/MAX WEST REALTY INC.