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$ 9,788,888
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Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Municipality Toronto E10
Subdivision West Hill
MLS Listing ID E12516420
Annual Tax Amount $50,515
Tax Year 2025
Property Sub-Type Land
Property Description
4280 4288 Kingston Road (the "Property") is a well located retail plaza that features strong rental rate upside in Scarborough - a community experiencing exponential population growth. Comprising 11,519 sq. ft. of GLA, the Property is 100% leased to a complementary mix of tenants that features reasonably low WALT's and in-place net rental rates that are ~20% below market. The retail plaza is divided into 10 units and is fully leased, providing diversity to the underlying cash flow and ongoing upside opportunities. The Property also has a ZBA application for an 11 storey, 147,466 sq. ft. residential development that would provide 225 units to the surrounding neighborhood. 4280-4288 Kingston Road provides a rare opportunity to acquire a diversified open air retail plaza with future value add opportunities through both active management, leasing & long term development upside. The Property is being offered at a 5.50% capitalization rate on in-place income.
Location
Province ON
County Toronto
Community West Hill
Area Toronto
Zoning Commercial
Exterior
Utilities Available Yes
Lot Frontage 202.5
Others
ParcelsYN No
Listed by CBRE LIMITED
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