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$365,000
Available - For Sale
Listing ID: C9282572
Superb Franchise restaurant opportunity located at King St E & Sherbourne St, heart of downtown Toronto. Features include Restaurant surrounded by George Brown College campus, major offices/banks & condos ensuring strong and stable customer base for lunch + dinner. Great potential for 24/7 operations. Directly connected to TTC, street cars (East/West) and bus service (North/South). Large condo towers by reputed builders: Pemberton - Time & Space 29 storeys complete 1600 condos - occupants moving in, Cityzen & Fernbrook - St Lawrence Condos 26 storeys complete 482 condos -occupants moving in, Menkes - The Whitefield - 39 storeys under construction 470 condos, First Gulf - EQ Bank Tower 23 Floors Exterior complete, working on interiors - anticipated ready to move in by Q1 2025.These developments bringing in estimated 9000+ new customers (in addition to existing customers) within 300m of the restaurant. At least 3 other major developments including Fitzrovia Retirement Homes anticipated to break ground soon within 100 meters of the restaurant; Notice by City of Toronto are up. New LRT is located within walking distance, Scotia Bank & Waddington Auction House located next door; National Bank, RBC, BMO; CIBC, Globe & Mail (Air Miles, Yellow Pages, many more) within 2 minute walk; Coca-Cola National Office and No Frills located within 50 meters; LCBO, Pet Store, Toronto Opera Company, Fire Station within 1 minute. This restaurant has the latest equipment: complete remodel including all equipment: 2 cold wells,1 hot well, 1 proofing & baking unit, 2 toaster ovens, Brand new HVAC unit, LED Lighting, New flooring and walls, seating capacity for up to 32 guests with 2 Toilets (plus small office space). Rapidly developing customer base; average household income of $135,000. Rent frozen for 2yrs and lease good thru 2028 with another option to extend the lease by another 5 yrs. Low TMI. Net Price includes all brand new equipment, furniture, newly installed HVAC, inventory.
Extras:   This turnkey ready to move in restaurant presents a rare opportunity for new entrepreneurs (immigrants and citizens alike ensuring long term employment and ownership); Seller open to partnership.
Price $365,000
Taxes: $0
Tax Type: Annual
Occupancy by: Own+Ten
Address: 259 King St East , Unit 25431, Toronto, M5A 1K2, Ontario
Apt/Unit: 25431
Postal Code: M5A 1K2
Province/State: Ontario
Directions/Cross Streets: King St E & Sherbourne St
Zoning: Commercial
Category: Without Property
Use: Restaurant
Building Percentage: N
Retail Area: 1350
Retail Area Code: Sq Ft
Approximatly Age: 16-30
Financial Statement: Y
Chattels: Y
Franchise: Y
Days Open: 7
Hours Open: 12-14
Employees #: 4
Seats: 32
LLBO: N
Sprinklers: Y
Heat Type: Elec Forced Air
Central Air Conditioning: Y
Elevator Lift: None
Water: Municipal
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ROYAL LEPAGE/J & D DIVISION

259 King St East , Unit 25431, Toronto, M5A 1K2, Ontario


 
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Type: Com - Sale Of Business
Area: Toronto
Municipality: Toronto
Neighbourhood: Moss Park
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Approximate Age: 16-30
Tax: $0
Maintenance Fee: $0
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Baths: 2
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