694 Mount Pleasant Road

694 Mount Pleasant Road
Toronto ON

694 Mount Pleasant Road View1

Property Type

Retail
Property Size
2 450 Sq Ft
Available Space
2 450 Sq Ft
Opportunity Type
Sale
Price
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Related Links

DescriptionClick Here To View Mapped Property

Click Here To View Mapped Property

Jones Lang LaSalle Real Estate Services Inc. (“JLL” and / or the “Advisor”) is pleased to offer for sale a 100% freehold interest in 694 Mount Pleasant Road (the “Property”). The Property is located in the heart of Midtown Toronto, at the southwest corner of Mount Pleasant Road and Soudan Avenue.

The Property is fully leased by Starbucks Coffee Canada Inc. until May 2022, with a Year One Net Operating Income (NOI) of $131,834 per annum and an NOI of over $150,000 by 2020. The offering provides an opportunity for an investor to benefit from stable cash flows backed by a AAA covenant, and provides meaningful upside through contractual rental escalations and market appreciation upon expiry.

Key Highlights

  • Rare opportunity to acquire a commercial corner lot in Midtown Toronto, with outdoor patio space
  • 100% occupied by Starbucks Coffee, a world-class covenant, on a ten-year lease expiring in May 2022 with renewal options until 2042
  • Situated steps from the TTC’s Eglinton Station, and the forthcoming Eglinton Crosstown LRT, to be completed by 2021
  • Located in a residential node undergoing a significant influx of high-rise residential development






Features

Building Area: 2,450 sf
Main Floor & Basement Area: 1,450 sf
2nd Floor Area: 1,000 sf
Patio Area: 250 sf (approx.)
Lot Area: 2,056 sf
Frontage: 18.5 ft.
Depth: 111 ft.
Occupancy: 100%
Zoning: CR 3.0 (c2.0; r2.5)
Official Plan: Mixed Use Area
Parking: Two (2) surface stalls
Year One NOI: $131,834 per annum

 



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Elliot Medoff_Commercial Real Estate Broker
Elliot Medoff

Sales Representative | Vice President

JLL

Toronto

+1 416 238 9768

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