588 Danforth Avenue

About this property

Turn-key investment opportunity on Danforth Avenue, just one block west of Pape Avenue in the heart of Toronto's vibrant Danforth community. This fully renovated and extended three-level commercial building (with an approximately 37 ft addition completed in 2011) offers a stable, income-generating opportunity with excellent long-term tenants. The main floor features a franchise restaurant with a strong lease in place with 2 extensions, where the tenant pays for property taxes, insurance, utilities, and maintenance, with the owner covering a modest balance of approximately $1,000 per month. The upper level is occupied by reputable professional businesses, contributing to a polished, business-friendly atmosphere. The property has been upgraded throughout, including a 400 AMP / 3-phase hydro service with complete rewiring of the entire building, There are two separate heated basements each with its own washroom, individual electrical panels for each unit, a new plumbing system installed for the entire building with new APEX water lines, new fixtures & New Drains., new floor joists & subfloors on the entire second floor, with installed & insulated with fire proof & sound proof insulation. Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear. A truly turn-key property requiring no repairs, ideally suited for investors seeking a prime commercial asset in a high-traffic, high-visibility Danforth location.