391 Lumsden Avenue, Toronto - $1,880,000 | Modern Solution Realty

391 Lumsden Avenue

391 Lumsden Avenue, Toronto

391 Lumsden Avenue in Toronto - 0 bedroom, 0 bathroom. Listed at $1,880,000.

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.

Property Details

  • Property Type: Mortgage
  • Square Footage: 6114 sqft
  • Heating: Gas Forced Air Open
  • Cooling: Yes
  • Parking: 0 space
  • Property Taxes: $17,071.52/yr
  • Neighbourhood: Crescent Town
  • Postal Code: M4C 2L6

View photos, details, and schedule a showing with Modern Solution Realty. 1% commission listing services available.