$299,900
259 King ST E #25431 Toronto C08, ON M5A 1K2
4
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$299,900
Est. payment /mo
2 BA
New
259 King ST E #25431 Toronto C08, ON M5A 1K2
UPDATED:
10/20/2024 03:38 PM
Key Details
Property Type Commercial
Sub Type Sale Of Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID C9418383
Tax Year 2024
Property Description
Superb Franchise restaurant opportunity located at King St E & Sherbourne St, heart of downtown Toronto. Features include Restaurant surrounded by George Brown College campus, major offices/banks & condos ensuring strong and stable customer base for lunch + dinner. Great potential for 24/7 operations. Directly connected to TTC, street cars (East/West) and bus service (North/South). Large condo towers by reputed builders: Pemberton - Time & Space 29 storeys complete 1600 condos - occupants moving in, Cityzen & Fernbrook - St Lawrence Condos 26 storeys complete 482 condos -occupants moving in, Menkes - The Whitefield - 39 storeys under construction 470 condos, First Gulf - EQ Bank Tower 23 Floors Exterior complete, working on interiors - anticipated ready to move in by Q1 2025.These developments bringing in estimated 9000+ new customers (in addition to existing customers) within 300m of the restaurant. At least 3 other major developments including Fitzrovia Retirement Homes anticipated to break ground soon within 100 meters of the restaurant; Notice by City of Toronto are up. New LRT is located within walking distance, Scotia Bank & Waddington Auction House located next door; National Bank, RBC, BMO; CIBC, Globe & Mail (Air Miles, Yellow Pages, many more) within 2 minute walk; Coca-Cola National Office and No Frills located within 50 meters; LCBO, Pet Store, Toronto Opera Company, Fire Station within 1 minute. This restaurant has the latest equipment: complete remodel including all equipment: 2 cold wells,1 hot well, 1 proofing & baking unit, 2 toaster ovens, Brand new HVAC unit, LED Lighting, New flooring and walls, seating capacity for up to 32 guests with 2 Toilets (plus small office space). Rapidly developing customer base; average household income of $135,000. Rent frozen for 2yrs and lease good thru 2028 with another option to extend the lease by another 5 yrs. Low TMI. Net Price includes all brand new equipment, furniture, newly installed HVAC, inventory.
Location
Province ON
County Toronto
Interior
Cooling Yes
Exterior
Utilities Available None
Parking Type None
Others
Security Features Yes
Listed by ROYAL LEPAGE/J & D DIVISION
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