2577-2581 Yonge Street

Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) is pleased to offer for sale a 100% freehold interest in 2577-2581 Yonge Street (the “Property” or “Site”), a prominent retail asset situated on 9,655 square feet (“SF”) of land with over 173 feet (“FT”) of depth, offering significant redevelopment potential in Toronto’s Yonge Street Midtown corridor. The opportunity is comprised of three (3) mixed-use commercial/residential buildings totalling 12,785 SF, with three (3) retail units at grade totalling 6,030 SF 66% occupied by strong tenant covenants on triple net leases, offering secure cashflow over the next 5.5 years. There is a 1,100 SF second floor retail / office unit currently occupied by the existing owner that is in turnkey condition for future tenants. Additionally, there are four (4) spacious apartments averaging more than 1,400 SF per unit that are 100% vacant, offering immediate upside.

The Property presents an attractive opportunity for owner-users or value-add investors to take advantage of the expansive Yonge Street frontage, with attractive in-place holding income. The Site’s strategic positioning in Toronto’s Midtown corridor offers significant medium to long-term redevelopment potential, allowing prospective purchasers to take advantage of the neighbourhood’s affluent demographics and the ample demand for housing; in-place plans contemplate a 54,000 SF midrise development with the opportunity to scale through the assembly of adjacent parcels of land.