453, 481 and 491 Eglinton Avenue West FOR SALE


Toronto, ON - Forest Hill South
$23,000,000 CAD
800-363-1163
, Toronto, ON for Sale
$23,000,000 CAD
FOR SALE
1/3
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453, 481 and 491 Eglinton Avenue West
Toronto, ON
Forest Hill South


HIGHLIGHTS

  • Transit-Oriented Location Occupying Two Prominent Corners of a Block
  • Strong Mix of Essential Service Tenants & Diverse Uses Represent Stable Income Profile
  • Prime Location in One of Toronto’s Most Affluent Neighbourhoods
  • In-Place Rents Present Mark-to-Market Opportunity & 84% Occupancy Provides Value-Add Leasing Upside
  • Two development applications in the immediate area include a 19-storey residential building at 444-446 Eglinton Avenue West and a 10-storey residentia
  • Active condominium developments have achieved 76% in sales at an average price of $1,429 psf.

OVERVIEW

TD Cornerstone Commercial Realty Inc. (the “Advisor”) is pleased to offer for sale a 100% freehold interest in 453, 481 and 491 Eglinton Avenue West in Toronto (collectively, the “Property”, “Site” or “Offering”). The Offering represents a rare opportunity to acquire almost a full city block of income producing assets with future development potential. Located on Eglinton Avenue West between the Chaplin and Avenue LRT Stations, the Offering provides prospective purchasers the opportunity to acquire three transit oriented assets in the prominent Forest Hill neighborhood. The individual properties combine to offer stable cash flow and a diverse mix of uses which include streetfront retail, medical office, traditional office, and residential apartments. Revenue upside exists through rental mark to market on lease renewal and the lease up of vacant units. With over 200 feet of expansive frontage along Eglinton Avenue West and 100 feet of depth, the Offering is bound by three municipal streets and a laneway which provides an optimal site for future residential redevelopment or intensification, subject to various development options should the mid-block assembly be completed. Precedent condominium launches in the node have achieved sales upwards of ~$1,500 psf which support development economics while contractual leases provide strong interim holding income during predevelopment. The Advisor is seeking expressions of interest from qualified parties. While offers on the collective assembly are preferred, individual parcel sales will be considered. Further information regarding the Offering can be found within the Confidential Information Memorandum (“CIM”), in the electronic data room, on property tours or by contacting a member of the Advisory team.

ASK ABOUT THIS PROPERTY

Elliot MedoffTD Cornerstone Commercial RealtyMore Info
800-363-1163

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Elliot MedoffTD Cornerstone Commercial RealtyMore Info
800-363-1163

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