$4,995,000 - 186-188 Strachan Avenue, Downtown Toronto
Commercial for Sale in Downtown Toronto
Popular Listing- MLS Number
- C13421522
- Property Type
- Commercial
- Status
- active
- Days on Site
- 9
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Lot Size
- 3,462 sqft
- Listing Brokerage
- BOSLEY REAL ESTATE LTD.
That Yellow Brick Building You've Always Admired At 186-188 Strachan Is Officially On The Market. The Selling Of This Coveted Building Presents A Rare Opportunity To Acquire A Prominent Mixed-Use Commercial Property In One Of Toronto's Most Desirable Urban Neighborhoods. Located Just South Of Queen Street West And Steps From The Gates Of Trinity Bellwoods Park, The Property Benefits From Exceptional Exposure, Flexible CR3 Zoning, And Strong Appeal To Investors, Owner-Users And Developers Alike. The Property Features An Approximate 5000 Square Foot, Two-Storey, Mixed-Use Commercial Building Situated On A 52.95 Ft X 65.39 Ft Lot With Approximately 3462 Square Feet Of Site Area, 2 Car Boulevard Parking And Attached Garage. Currently Used As One Retail Space With Two Office Spaces Above. Positioned Within The Highly Sought-After Queen West/Trinity Bellwoods Corridor, The Area Is Surrounded By Busy Retail, Hospitality, Residential, And Creative Commercial Uses With Excellent Connectivity To The Downtown Core, King West, Liberty Village, And Ossington Districts. Ideal For Investors Seeking Stable Long-Term Income From A Mixed-Use Asset With Retail And Upper-Floor Commercial Or Studio Leasing Potential. The Property Also Offers An Exceptional Opportunity For Owner-Users, Including Creative Office, Hospitality, Wellness, Fitness, Design Studio, And Boutique Retail Operators Seeking Flagship Space With Operational Flexibility In A High Profile Urban Location. Flexible CR3 Zoning Further Supports Long Term Intensification And Adaptive Reuse Potential, Adding Significant Value For Redevelopment-Minded Purchasers. Exceptional Opportunity For Repositioning, Long Term Growth, And Value Appreciation In One Of Toronto's Most Dynamic Commercial And Residential Areas. Vacant Possession By The End Of August. (Retail August 31/26, Front Office June 30/26, And Back Office Is Month To Month And Requires 30 Days Notice). See Attached Feature Sheet For Floor Plans & Survey
Estimate your monthly payments for this property
Estimated Payment
$22,094.57/mo
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 Downtown Toronto / Waterfront
Downtown Toronto / Waterfront 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 Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •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
Downtown Toronto / Waterfront 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.
186-188 Strachan Avenue, Downtown Toronto / Waterfront
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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
At $999/sqft, this is priced in the upper range for GTA commercial — typical for prime locations or newer buildings. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Commercial Market Pace
Commercial real estate transactions typically take 60–120 days from offer to close — longer than residential — due to financing conditions, environmental reports, and tenant estoppel reviews. This 9-day listing is within normal commercial market exposure.
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 Downtown Toronto transactions.