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Price Dropped by $100K
242 Queen ST W Toronto C01, ON M5V 1Z7
3,870 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,870 sqft
Municipality Toronto C01
Subdivision Kensington-Chinatown
MLS Listing ID C12972592
Annual Tax Amount $40,125
Tax Year 2025
Property Sub-Type Commercial Retail
Property Description
Landmark end-user/investment opportunity in a prime high-traffic Queen St W location between John and McCaul Streets. Ground floor retail currently leased to Dragon Vape, one of Canada's largest e-cigarette suppliers, secured with corporate covenant via wholesale operations. Vacant possession of retail available on closing for end users. Direct sightlines to Bell Media HQ provide rare on-air visibility and strong pedestrian traffic. Previously leased to John Fluevog and Wine Rack at premium rents. Upper levels include two large semi-attached 3-bedroom apartments with stable month-to-month tenants and rooftop decks/patios. 3rd floor currently accessed through 2nd floor unit with potential to combine into a large 2-floor, 6-bedroom apartment or reconfigure to increase rents. Bonus high, dry basement (not included in total square footage), large rear parking, and double-door shipping access with potential for future expansion due to unused lot area. Excellent transit access including multiple streetcar routes and the future Ontario Subway Line, providing walkable access to Queen / Spadina and Osgoode Stations with connections across the city and GO Transit (estimated completion 2030).
Location
Province ON
County Toronto
Community Toronto C01
Area Toronto
Zoning CR3(c2;r2*2387)
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 17.06
Lot Depth 120.0
Others
Security Features Partial
ParcelsYN No
Listed by CUSHMAN & WAKEFIELD