691-701 SOMERSET Street Image 1

$4,800,000

Oct 29, 2024Commercial Retail For Sale
bedroomsbed
washrooms0bath
MLS - #X9768534

691-701 SOMERSET Street, West Centre Town, ON K1R 6P5

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Similar Homes Found
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Average Price
480000000.0%
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Price Comparison

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Property Description

Property type

Commercial Retail

Lot size

N/A

Style

Approx. Area

N/A

About 691-701 SOMERSET Street

691-701 Somerset Street West is one of Chinatown’s most recognizable and identifiable commercial properties. Immediately visible from the Royal Gateway at Bronson Avenue, this investment represents the opportunity to own a fully tenanted building in a prestigious location. The site area for the property is 7,592 sf with a total of 14,324 rentable square feet over the first and second floors. Serviced with both an elevator and spiral staircase, the second floor provides a 7,327 sf unit, where the ground floor unit provides approximately 3,430 sf. Both units have executed 5-year leases in 2024. Three additional retail units on the ground floor are also leased. A 7,167 sf lower-level parking garage provides approximately 16 parking spots accessed from Cambridge Street North. The site also benefits from ample street parking and a parking lot to the west of the property.

Home Overview

Last updated

17 hours ago

Virtual tour

None

Basement information

Building size

14324

Status

In-Active

Property sub type

Commercial Retail

Maintenance fee

$N/A

Year built

--

Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES

Additional Details

Basement:N/A
Cooling:Partial
Heating:Gas Forced Air Open
Parking Features:N/A

MORTGAGE INFO

ESTIMATED PAYMENT

Principal and InterestProperty Taxes$18332.75/ month
$3,840,000 Principal and Interest
$4,608,000 Property Taxes

Location

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Walk Score for 691-701 SOMERSET Street

Some information about this property - SOMERSET Street

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