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691-701 SOMERSET Street W
32.21.0004 West Centre Town K1R 6P5

$4,800,000
Commercial

Main Photo: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 1: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 2: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 3: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 4: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 5: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 6: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 7: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 8: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 9: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 10: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 11: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Photo 12: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
Status:
Active
Prop. Type:
Commercial
MLS® Num:
X9768534
691-701 Somerset Street West is the 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.
North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right.
041110214
Property Type:
Commercial
Commercial Type:
Commercial/Retail
Depth:
85'
Frontage:
100'
Total Area:
14,324 sq. ft.
Retail Area:
14,324 sq. ft.
Zoning:
TM [112] H(16)
Total Parking Spaces:
16
Possession Details:
TBD
Lot Irregularities:
1
Taxes:
$64,475 / 2021
Assessment:
$- / -
Seller Property Info Statement:
No
Category:
Retail
Gross income:
$402,976
Net Income Before Debt:
$263,396
Date Listed:
Oct 30, 2024
Original Price:
Previous Price:
  • Photo 1: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
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  • Photo 5: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
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  • Photo 10: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
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  • Photo 11: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
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  • Photo 12: 691-701 SOMERSET Street W in West Centre Town: 32.21.0004 Property for sale (32.21)  : MLS®# X9768534
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Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES
Data was last updated October 31, 2024 at 03:55 PM (UTC)