$299,900
Available - For Sale
Listing ID: C9418383
259 King St East , Unit 25431, Toronto, M5A 1K2, Ontario
| Superb Franchise restaurant opportunity located at King St E & Sherbourne St, heart of downtown Toronto. Features include Restaurant surrounded by George Brown College campus, major offices/banks & condos ensuring strong and stable customer base for lunch + dinner. Great potential for 24/7 operations. Directly connected to TTC, street cars (East/West) and bus service (North/South). Large condo towers by reputed builders: Pemberton - Time & Space 29 storeys complete 1600 condos - occupants moving in, Cityzen & Fernbrook - St Lawrence Condos 26 storeys complete 482 condos -occupants moving in, Menkes - The Whitefield - 39 storeys under construction 470 condos, First Gulf - EQ Bank Tower 23 Floors Exterior complete, working on interiors - anticipated ready to move in by Q1 2025.These developments bringing in estimated 9000+ new customers (in addition to existing customers) within 300m of the restaurant. At least 3 other major developments including Fitzrovia Retirement Homes anticipated to break ground soon within 100 meters of the restaurant; Notice by City of Toronto are up. New LRT is located within walking distance, Scotia Bank & Waddington Auction House located next door; National Bank, RBC, BMO; CIBC, Globe & Mail (Air Miles, Yellow Pages, many more) within 2 minute walk; Coca-Cola National Office and No Frills located within 50 meters; LCBO, Pet Store, Toronto Opera Company, Fire Station within 1 minute. This restaurant has the latest equipment: complete remodel including all equipment: 2 cold wells,1 hot well, 1 proofing & baking unit, 2 toaster ovens, Brand new HVAC unit, LED Lighting, New flooring and walls, seating capacity for up to 32 guests with 2 Toilets (plus small office space). Rapidly developing customer base; average household income of $135,000. Rent frozen for 2yrs and lease good thru 2028 with another option to extend the lease by another 5 yrs. Low TMI. Net Price includes all brand new equipment, furniture, newly installed HVAC, inventory. |
| Extras: This turnkey ready to move in restaurant presents a rare opportunity for new entrepreneurs (immigrants and citizens alike ensuring long term employment and ownership); Seller open to partnership. |
| Price | $299,900 |
| Taxes: | $0.00 |
| Tax Type: | Annual |
| Occupancy by: | Own+Ten |
| Address: | 259 King St East , Unit 25431, Toronto, M5A 1K2, Ontario |
| Apt/Unit: | 25431 |
| Postal Code: | M5A 1K2 |
| Province/State: | Ontario |
| Directions/Cross Streets: | King St E & Sherbourne St |
| Category: | Without Property |
| Use: | Restaurant |
| Building Percentage: | N |
| Retail Area: | 1350 |
| Retail Area Code: | Sq Ft |
| Approximatly Age: | 16-30 |
| Financial Statement: | N |
| Chattels: | Y |
| Franchise: | Y |
| Days Open: | 7 |
| Hours Open: | 12-14 |
| Employees #: | 4 |
| Seats: | 32 |
| LLBO: | N |
| Sprinklers: | Y |
| Washrooms: | 2 |
| Heat Type: | Elec Forced Air |
| Central Air Conditioning: | Y |
| Elevator Lift: | None |
| Water: | Municipal |
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| ROYAL LEPAGE/J & D DIVISION |
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Irfan Bajwa
Broker, ABR, SRS, CNE
Dir:
416-832-9090
Bus:
905-268-1000
Fax:
905-277-0020
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Sale Of Business |
| Area: | Toronto |
| Municipality: | Toronto |
| Neighbourhood: | Moss Park |
| Approximate Age: | 16-30 |
| Baths: | 2 |
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