588 Rapids Lane
Mississauga, ON
3,164 sqft • Commercial Retail • 184 days on market
Short on a down payment? (read below) Great live work, Potential to designate second commercial rental space just up the staircase. Mixed Use - this luxury townhome includes a separate 725 sq. ft. commercial unit plus a stunning 2,439 sq. ft. residence .The retail space is tenanted, generating $47,460/year in passive income ($3,500/month + hydro). High-traffic location directly across from major retailers including McDonald's, Shoppers Drug Mart, and Dollarama. On-site designated parking available. The owner-occupied townhome features a spacious living and dining area with walk-out balcony, upgraded kitchen with centre island, stainless steel appliances, pot lights, quality laminate flooring, and a striking glass-insert staircase. Offers 3 bedrooms, including a primary retreat with 3-pc ensuite and private balcony, plus a second bedroom with 4-pc ensuite. 4 bathrooms total. Enjoy a rooftop terrace with gas BBQ hookup, built-in garage, and private driveway (2 parking spaces).Easy access to Toronto via GO Transit, including the Port Credit GO Station. Close to top schools, shopping, parks, and everyday conveniences. An exceptional opportunity to own luxury living with built-in income. (Down Payment) - A family member can advance funds from their line of credit, and the main-floor rent can cover the repayment so they're not out of pocket. Monthly private fee is $152.
Listing Details
- Taxes (2025)
- $10,141
- Originally Listed
- $1,549,900
- Listed
- February 25, 2026
Price History
Listing history
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Property
- Age
- 0-5
- Lot Size
- 22 x 60 Feet
Location & Legal
- Cross Street
- Lakeshore Rd. & Cawthra Rd.
- Zoning
- RM6-16
- Parcel Number
- 134730340
- Possession
- Flexible
Commercial
- Business Type
- Other
- Occupancy
- Owner+Tenant
- Office / Apartment Area
- 2439 Sq Ft
Community
Postal area L5G
- Population
- 20,714
- Private dwellings
- 9,226
- Median age
- 45.2
- Average household size
- 2.4
- Median household income
- $95,000
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 Mississauga · last 12 months
- Median sold price
- $870,000
- Homes sold
- 5,419
- Median days on market
- 24
- Sale-to-list price
- 97.5%
Based on 5,419 recorded sales of commercial properties in Mississauga over the last 12 months.
Listed by
Royal Lepage Real Estate Associates
Walk Score
Walk
Transit
Bike
Scores by Walk Score®
Location
Commercial figures
- Building area
- 3,164 sq ft
- Price per sq ft
- $470.29
- Annual property tax
- $10,141
- Tax per sq ft
- $3.21
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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