$798,000 - 284 Main Street, King
Commercial for Sale in King
New — Listed 4 days ago- MLS Number
- N13111434
- Property Type
- Commercial
- Status
- active
- Days on Site
- 4
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,350 sqft
- Neighbourhood
- King
- Lot Size
- 4,381 sqft
- Listing Brokerage
- COLDWELL BANKER RONAN REALTY
Welcome to 284 Main Street Shomberg - Offered at only $798,000. Incredible Value with excellent ROI Rental income potential!Opportunity is Knocking - Will You Answer?Attention investors, entrepreneurs, and savvy end users! This exceptionally rare, mixed-use zoned property offers the ultimate flexibility - allowing both residential and commercial use in one of the most desirable pockets of King Township.Perfectly positioned in the heart of charming downtown Schomberg, right along its vibrant Main Street, this property presents endless possibilities: live where you work, generate rental income, operate your business, or invest in a rapidly growing community.Surrounded by popular restaurants, boutique shops, schools, dental offices, grocery stores, and everyday conveniences - and offering quick access to Highways 400, 27, and 9 - the location truly speaks for itself.Inside, you'll find: 5 spacious bedrooms 4 bathrooms Multiple private entrances A rear upper balcony A fully fenced backyard with a beautiful interlock patio 2 laundry rooms Spacious front covered porch Currently separated into 4 apartments - 2 main level studio apartments, upper level 2 bedroom, main level rear 1 bedroom with den 64k annul rental income 2025 (Upper unit 2 bedroom currently vacant)Currently operating as a profitable income-generating rental property, this is a turnkey opportunity with immediate upside and long-term growth potential.Own a piece of downtown Schomberg and secure your place in one of King Township's most sought-after communities.
Estimate your monthly payments for this property
Estimated Payment
$4,094.15/mo
Includes CMHC insurance ($22,264)
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 King
King 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 King
- •Convenient location in King
- •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
King 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.
284 Main Street, King
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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 $591/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.
Just Listed — Take Your Time
This property just hit the market. Commercial due diligence is thorough and takes time — environmental assessments, lease review, financial statement analysis, and zoning confirmation. Unlike residential, there's rarely a multiple-offer frenzy. Act with focus, not urgency.
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 King transactions.