391 Lumsden AvenueToronto E03, Toronto, ON, M4C 2L6
391 Lumsden AvenueToronto E03, Toronto, ON, M4C 2L6
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Listing History
Buy/sell history for 391 Lumsden Avenue, Toronto, ON M4C 2L6
| Date Start | Date End | Event | Price | MLS# |
|---|---|---|---|---|
0 Transactions by CPRB Agents
Top Agents in Toronto E03
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.
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$1,880,000
List price