A Toronto grocery store recently hit the market, but it's not going to be used for its intended purpose.

The building that currently houses Silva Groceries at 1921 Davenport Road in Corso Italia has recently been listed for sale at an affordable-by-Toronto-standards $3.2 million, but it probably won't become another grocery store.

In fact, there has already been an application submitted for the over 6000 square foot building to be redeveloped into a 5-storey mixed-use building with 19 residential units and commercial space on the ground floor.

The original building was erected in the late nineteenth to early twentieth century as a TD Bank (then Dominion Bank) by architect John M. Lyle, but there's no word on whether any of the original building will be salvaged for the development project.

The proposal, which is entering the final stages of approval, will see the total square footage of the address balloon to 19,848 square feet, and is proposed to add a basement with vehicle and bike parking as well as four parking spots at the back of the building.

The outside of the grocery store. Photo by Urban Landmark Reality Inc.

The proposed building has been designed by Ambient Designs, the firm that designed the Ethica Coffee Rosters building on Sterling Road, and if that space is any indication, the new building might just do justice to the original architectural style of the building.

So far, the listing for 1921 Davenport has been on the market for nearly 150 days, so there's no clear sign of movement on the project yet, but if you have a spare $3 million lying around and are dying to live in a grocery store, this might be the investment opportunity for you.