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    For Sale - 31 Atlantic Avenue Unit# 3rd Fl, Toronto, Ontario

    Est payment $15,606/mo
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    Views   2
    Time on Jump  22 day

    AI Summary *

    • Main floor leased to a church with steady income until 2026.
    • Upper floor currently vacant, ready for personal use or rental.
    • Additional income potential from advertising on the north wall.
    • Opportunity for property tax exemption with current church lease.
    • Well-maintained property with ongoing updates like new windows and paint.




    Main floor and mezzanine income is $7506 plus utilities (water, waste management, gas and hydro)and hst. Original term ends on october 31,2026. Plus a 5 year option. It is leased to liberty grace church. They are willing to stay and renew for another 5 years. They were looking to buy the property but unfortunately cannot come up with a down payment of 30%. Upper floor income was $5237 plus utilities (water, gas and hydro) and hst. Currently vacant and being painted, replacing windows and washroom. Tony has not leased the upper unit in case a potential buyer needs the space. Potential income from renting north wall for advertising according to grassroots advertising: $36,000 per year as per their offer to lease. Again tony is holding off leasing as he prefers to sell the property. Seller pays property tax; $29,507. 47(2025). The main floor is leased to a church and may qualify for a property tax exemption although the current owner has not applied for it. Seller pays property insurance $6,025. 32.
    Listing IDC13248374
    Address31 Atlantic Avenue Unit# 3rd Fl
    CityToronto, Ontario
    Price$3,250,000
    Bath4 Full
    StyleCommercial Retail
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype Commercial RetailHeating / Cooling Gas Forced Air Open

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    Listing Agency:  RE/MAX WEST REALTY INC.

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    31 Atlantic Avenue Unit# 3rd Fl
    Toronto , Ontario
    4 $3,250,000
    Get more info