$949,000 - 142 Martin Street, Milton
Commercial for Sale in Milton
134 days on market- MLS Number
- W12750862
- Property Type
- Commercial
- Status
- active
- Days on Site
- 134
- Bedrooms
- 0
- Bathrooms
- 2
- Square Feet
- N/A sqft
- Neighbourhood
- Milton
- Listing Brokerage
- Royal Lepage Real Estate Associates
Historic Charm Meets Modern Comfort in the Heart of Milton. Welcome to 142 Martin Street, a beautifully restored century home (circa 1920) located on a generous lot just steps from downtown Milton. Rich in character and timeless appeal, this stately property boasts original interior doors, trim, and a grand staircase that have been lovingly preserved. The refinished original hardwood floors and soaring ceilings create a warm, elegant atmosphere, while the inviting front porch adds a touch of classic charm. Thoughtfully updated for todays lifestyle, the home features modernized essentials including the roof, windows, electrical, and HVAC systems offering peace of mind without compromising its heritage. Currently configured as a professional office space, the layout provides flexibility and can be easily converted back into a stunning family residence. Located in a sought-after neighbourhood surrounded by newly renovated and expanded homes, and just steps to the newly revamped Martin Street Public School, this unique property presents a rare opportunity to own a piece of Milton's history while enjoying all the conveniences of downtown living. **The second floor is currently tenanted. Tenant pays Gross lease of $1968 per month. Lease expires January 31 2027 however the Tenant has expressed a desire to extend. With respect to medical uses, please note that an Office Use may contain the clinic of one Regulated Health Professional (e.g., physician, dentist, dental hygienist, etc.). A clinic of more than one Regulated Health Professional (e.g., a dentist in addition to dental hygienist) is considered a Medical Clinic, not an Office Use, and would therefore not be permitted at the property under consideration from a zoning perspective.**
Estimate your monthly payments for this property
Estimated Payment
$4,868.86/mo
Includes CMHC insurance ($26,477)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Milton
Milton is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Milton
- •Convenient location in Milton
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Milton offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
142 Martin Street, Milton
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Key factors for evaluating this commercial property
Commercial Due Diligence Checklist
· Verify zoning and all permitted uses
· Review all existing leases (terms, renewals, net vs. gross)
· Request estoppel certificates from all tenants
· Order a Phase 1 Environmental Site Assessment
· Commission a property condition assessment
· Review operating costs (taxes, insurance, maintenance)
Commercial Financing Note
Commercial mortgages require 20–35% down, shorter amortization, and lenders underwrite based on the property's income. CMHC insurance is not available for commercial. Connect with a commercial mortgage broker early.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Commercial Pricing Context
Commercial property values in Milton are driven by location, zoning, current tenancy, and income potential — not the same $/sqft benchmarks as residential. I'll run a proper comparable sales analysis using recent commercial transactions in this area.
Extended Exposure — Negotiating Room
At 134 days on market, this commercial property has had significant exposure. Commercial listings typically take longer to sell than residential, but this timeline may indicate pricing or tenancy issues worth exploring. A motivated seller often means better terms for a prepared buyer.
Zoning & Permitted Use — Verify First
I always confirm the zoning and permitted uses before a client gets too far into a commercial transaction. What a property is currently used for and what it's legally permitted for are sometimes different. If you plan to change the use, a zoning amendment or minor variance may be required — that's additional cost, time, and risk.
Tenancy & Income Review
If this property has existing tenants, I'd want to review all leases carefully: term lengths, renewal options, rent amounts, escalation clauses, and who's responsible for operating costs (gross lease vs. net lease). A strong long-term tenant is an asset; a lease expiring at closing is a different story. We'll request estoppel certificates from all tenants.
Environmental & Due Diligence
A Phase 1 Environmental Site Assessment is standard practice for commercial purchases in Ontario. If historical industrial use is flagged, you'll need a Phase 2. I also recommend a property condition assessment covering structure, roof, HVAC, and electrical — commercial systems are expensive to replace and often not disclosed in detail on the listing.
Commercial Financing Realities
Commercial mortgages work differently than residential. Expect 20–35% down, shorter amortization (15–25 years), and lenders who underwrite based on the property's income, not just your personal financials. CMHC insurance is generally not available for commercial, and rates are typically higher. I can connect you with commercial mortgage brokers who specialize in Milton transactions.