REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,880,000
Est. payment /mo
Price Dropped by $10K
391 Lumsden AVE Toronto E03, ON M4C 2L6
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Municipality Toronto E03
Subdivision Crescent Town
MLS Listing ID E13533576
Annual Tax Amount $17,071
Tax Year 2026
Property Sub-Type Investment
Property 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.
Location
Province ON
County Toronto
Community Toronto E03
Area Toronto
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 45.58
Lot Depth 134.0
Others
ParcelsYN No
Listed by CITY PLUS REALTY INC.