FULLY LEASED COMMERCIAL PROPERTY FOR SALE

• 159 RONCESVALLES AVENUE, TORONTO
• CARE-FREE INVESTMENT.
• LONG TERM LEASES W/ ESCALATIONS.
• SEPARATE METERS FOR HYDRO.
• ONE LONG TERM SUCCESSFUL COMMERCIAL TENANT AND ONE RENOVATED RESIDENTIAL UNIT.
• 18.33 FT. FRONTAGE AND 115 FT. DEPTH.
• LOCATED IN THE CENTRE OF A GREAT SHOPPING CORRIDOR.
• MAIN FLOOR HEALTH FOOD STORE, LEASED TO “EVERGREEN NATURAL FOODS” (50 YEARS TO PRESENT).
• COMMERCIAL TENANT
• NET RENT: $9,202.00 MONTHLY ($110,424.00 ANNUALLY).
• TMI ESTIMATED: $2,112.67 MONTHLY ($25,352.00 ANNUALLY).
• TERM OF LEASE: 5 YEARS (BEGINNING JULY 01, 2026).
• RENT ESCALATION: $225.00 MONTHLY (INCREASED ANNUALLY, 2.445% YEAR 2).
• OPTION TO RENEW: YES (2ND 5 YEAR TERM, PURSUANT TO LEASE).
• RESIDENTIAL TENANT
• MONTHLY RENT: $2,997.00 MONTHLY ($35,964.00 ANNUALLY + 2.1% SEPT 01/26).
• HYDRO, GAS INCLUDED: NO (TENANTS UTILITIES ARE SEPARATELY METERED).
• LEASE TERM: AS PER ONTARIO RTA (CURRENT TENANCY 5 YEARS).
• RENT ESCALATION: $225.00 MONTHLY (INCREASED ANNUALLY, 2.445% YEAR 2).
• OPTION TO RENEW: YES (2ND 5 YEAR TERM, PURSUANT TO LEASE).
• NOTE: THE COMMERCIAL TENANT PAYS THE ENTIRE INSURANCE BILL, AND ALL WATER AND WASTE MANAGEMENT BILLS, INCLUDING ANY PORTIONS OF BILLS THAT MAY BE ATTRIBUTABLE TO THE RESIDENTIAL UNIT.
• HIGHLIGHTS
• ASSESSMENT ROLL NO.: 19-04-023-290-00600-0000-00.
• LEGAL DESCRIPTION: PLAN 713 PT LOT 1.
• DESCRIPTION (MPAC): FRONT 18.33 FT., DEPTH 115.00 FT., AREA 2,135.00 SQ. FT.
• BUILDING AREA: 2,025.47 SQ. FT. (+/-).
• RESIDENTIAL AREA: 1,139.75 SQ. FT. (+/-) + ROOFTOP DECK 273 SQ. FT. (+/-).
• EXCELLENT INCOME POTENTIAL.
• PROPERTY BEING OFFERED TO MARKET AT A 4% CAPITALIZATION RATE.
• NOTE: WHILE EVERY EFFORT HAS BEEN MADE FOR ACCURACY, ALL MEASUREMENTS ARE APPROXIMATE.
• MAIN FLOOR HEALTH FOOD STORE LEASED TO “EVERGREEN NATURAL FOODS” (50 YEARS TO PRESENT), WITH A NEW CURRENT 5 YEAR TERM + OPTION TO RENEW FOR AN ADDITIONAL 5 YEARS.
• MAIN FLOOR COMMERCIAL UNIT UTILITIES (GAS & HYDRO) ARE SEPARATELY METERED. HYDRO SUPPLY INCLUDES 240V SERVICE AND 600V SERVICE (POWERING 1 “STEPDOWN” TRANSFORMER). DEDICATED ROOFTOP AC UNIT AND GAS FURNACE.
• RESIDENTIAL UNIT UTILITIES (GAS & HYDRO) ARE SEPARATELY METERED. FEATURES INCLUDE DEDICATED AC UNIT, GAS FURNACE, MAPLE ¾” PLANK FLOORING THROUGHOUT, GAS BURNING FIREPLACE, PASS-THROUGH MODERN KITCHEN TO DINING/LIVING ROOM, MODERN BATHROOM, STACKED LAUNDRY, MULTIPLE STORAGE CLOSETS, LARGE PRIMARY BEDROOM FEATURING EXPANSIVE WINDOWS AND ACCESS TO PRIVATE FENCED-IN ROOFTOP DECK, SECONDARY BEDROOM, AND CURRENT TENANCY OF 5 YEARS.