309-311 Augusta Avenue (the "Property") is a rate 1-storey building with over 45 feet of frontage located in the vibrant and eclectic Kensington Market, a highly sought-after neighbourhood full of culture and rich history in downtown Toronto. The area boasts expressive architecture, vintage shops, and globally-inspired street food. The property is improved with an approximate 4,461 SF building that is demised into two commercial units. The property also has a large basement that can be used for storage. Currently tenanted by a bicycle store and coin laundry facility and providing strong in-place income, investors have an opportunity to re-lease both spaces to increase rental income significantly. Alternatively, given the Property's significant size, this is an excellent opportunity for an end-user to occupy one unit, while leasing out the other, capitalizing on the strong demand for retail space in this notable neighbourhood. Investors can also demolish the building and develop a new 4-storey, 18,130 SF building which would achieve strong rental rates given the Property's location. Kensington Market is renowned for its mix of shops, restaurants, and cultural vibrancy, drawing in both locals and tourists from all over the country and world. The area's heavy foot traffic significantly enhances the Property's appeal to retail tenants, evidenced by the longevity of the current businesses who collectively have been operating out of the Property for over 50 years. Its central location also makes it an ideal residence for young professionals, making the Property an exceptional investment opportunity.
Address
309-311 Augusta Avenue
List Price
$2,700,000
Property Type
Commercial
Type of Dwelling
Commercial Retail
Area
Toronto C01
Sub-Area
Kensington-Chinatown
County
Toronto
Lot Depth
110
Lot Type
Lot
Lot Size Units
Feet
Lot Width
46
MLS® Number
C12109616
Listing Brokerage
COLLIERS
Postal Code
M5T 2M2
Tax Amount
$49,282.47
Tax Year
2024
Heat Type
Gas Forced Air Closed
Cooling Features
Partial
Garage Type
Outside/Surface
Security Features
No
Sewer
Sanitary+Storm