149-151 Milvan Dr - Warehouse FOR SALE


Toronto, ON M9L 1Z8- Black Creek
$4,495,000 CAD
905-793-5000
149-151 Milvan Dr, Toronto, ON for Sale
$4,495,000 CAD
Warehouse - FOR SALE
1/2
null | Request Cap Rate

149-151 Milvan Dr
Toronto, ON M9L 1Z8
Black Creek


HIGHLIGHTS

  • Prime Location: Situated between Steeles Avenue and Islington Avenue, available for the first time in over 60 years.
  • Fully Leased: Two-unit industrial building with 100% occupancy; leases expire end of 2026.
  • Flexible Zoning: E1 zoning supports warehousing, manufacturing, automotive, and other industrial uses.
  • Drive-In Shipping Doors: Four total—two measuring 10' x 10' and two measuring 10' x 12'.
  • Outdoor Storage Potential: Large, fenced, and paved rear yard suitable for open storage.
  • Tenant Interest: Both tenants are interested in staying beyond current lease terms, but possibility of vacating per owner request.

OVERVIEW

This fully leased industrial facility, located on Milvan Drive in North York between Steeles Avenue and Islington Avenue, is available for the first time in over 60 years. The well-maintained building consists of two units, each equipped with multiple drive-in shipping doors. Zoned E1, the property offers flexibility for a wide range of business operations, including warehousing, manufacturing, and automotive uses. In total, the building features four drive-in doors—two measuring 10 feet by 10 feet and two measuring 10 feet by 12 feet. A large, fenced, and paved rear yard provides potential for open storage. Natural light is abundant throughout the building, with windows in both office and warehouse areas. The property is 100% leased, with both leases set to expire at the end of 2026, allowing for vacant possession thereafter. While both tenants have expressed interest in staying, this presents an excellent opportunity for a future owner-occupier to benefit from holding income. The building includes functional office layouts across two floors, with each unit offering approximately 2,000 square feet of office space and 3,150 square feet of warehouse or manufacturing space. Some cosmetic updates may be needed to modernize the interiors.

FOR SALE DETAILS

PRICE

$4,495,000 CAD

PRICE/SF

$435 CAD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

4

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.54

LAND SF

23,600

ZONING

E1

APN/PARCEL ID

190801350000900

ASK ABOUT THIS PROPERTY

Craig LindsayRoyal LePage Credit Valley Real EstateMore Info
905-793-5000

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Craig LindsayRoyal LePage Credit Valley Real EstateMore Info
905-793-5000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.