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388 Spadina AVE Toronto C01, ON M5T 2G5
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision Kensington-Chinatown
MLS Listing ID C12437637
Annual Tax Amount $49,232
Tax Year 2025
Property Sub-Type Investment
Property 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.
Location
Province ON
County Toronto
Community Kensington-Chinatown
Area Toronto
Zoning CR - Commercial Residential
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 18.66
Lot Depth 100.0
Others
ParcelsYN No
Listed by CBRE LIMITED