588 Danforth Avenue

Toronto E03, ON

5 bath
2,700 sqft
Investment
165 days on market

$2,389,000

Turn-key investment opportunity on Danforth Avenue, just one block west of Pape Avenue in the heart of Toronto's vibrant Danforth community. This fully renovated and extended three-level commercial building (with an approximately 37 ft addition completed in 2011) offers a stable, income-generating opportunity with excellent long-term tenants. The main floor features a franchise restaurant with a strong lease in place with 2 extensions, where the tenant pays for property taxes, insurance, utilities, and maintenance, with the owner covering a modest balance of approximately $1,000 per month. The upper level is occupied by reputable professional businesses, contributing to a polished, business-friendly atmosphere. The property has been upgraded throughout, including a 400 AMP / 3-phase hydro service with complete rewiring of the entire building, There are two separate heated basements each with its own washroom, individual electrical panels for each unit, a new plumbing system installed for the entire building with new APEX water lines, new fixtures & New Drains., new floor joists & subfloors on the entire second floor, with installed & insulated with fire proof & sound proof insulation. Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear. A truly turn-key property requiring no repairs, ideally suited for investors seeking a prime commercial asset in a high-traffic, high-visibility Danforth location.

Listing Details

Taxes (2025): $34,858
Listed: March 31, 2026

Price History

Listing history

Property

Lot Size: 16 x 120 Feet

Parking

Garage: Outside/Surface

Location & Legal

Cross Street: West Of Pape Ave
Zoning: Commercial
Parcel Number: 104030456
Possession: Flexible
Occupancy: Tenant

Commercial

Office / Apartment Area: 1353 Sq Ft

Community

Postal area M4K

Population: 30,913
Private dwellings: 15,139
Median age: 43.2
Average household size: 2.2
Median household income: $84,000

Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.

Local market

Commercial in Toronto E03 · last 12 months

Median sold price: $1,100,000
Homes sold: 727
Median days on market: 13
Sale-to-list price: 102.9%

Based on 727 recorded sales of commercial properties in Toronto E03 over the last 12 months.

Listed by

RE/MAX REALTRON REALTY INC.

Walk Score

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Location

Street View

Commercial figures

Building area: 2,700 sq ft
Price per sq ft: $884.81
Annual property tax: $34,858
Tax per sq ft: $12.91

Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.

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