508 Yonge Street, Toronto, ON, M4Y 1X9, CA

508 Yonge Street

Asset description

The JLL Private Capital Group (“JLL”) is pleased to present an institutionally-managed three (3) storey retail and multi-residential asset, steps away from Yonge and Wellesley. The Property comprises 2,254 square feet (“SF”) and benefits from highly sought after Yonge Street frontage and direct access to higher order transit with the Wellesley TTC subway station a short walk away.

The Property provides stable cash flow with immediate upside through lease-up of the vacant, ‘turnkey’ residential units, which have recently been renovated. Additionally, if there is interest in vacating the current commercial tenant, the retail lease contains a landlord-favorable termination option. With its strategic location along the City’s most iconic street and unprecedented densification in the surrounding node, the Property is well-positioned to benefit from strong rental growth for years to come.

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Attributes

Rentable area

209 sm

Land area gross

179 sm

Units

Asking price

CA$3,050,000

Media

Investment highlights

Premier Location

Situated on Yonge Street, the Property offers excellent visibility and exposure along a key urban corridor, steps away from the Wellesley TTC subway station.

Flexible Offering

The Opportunity is very flexible allowing for a user to occupy the full building or an investor to take on a new long-term retail tenant and lease-up the upper residential units in a very strong multi-residential market.

Institutionally Managed

The Property has been institutionally managed since 2012, with recent renovations to the 2nd and 3rd floor residential units.

Intensifying Area

Yonge Street is experiencing unprecedented intensification, with more than 4,714 multi residential units either planned or under construction as of Q3-2024 in a five-minute walk radius of the Property. With a myriad of local amenities including shops, restaurants and green spaces, the area is primed for continued improvement.