Toronto bakeshop building is for sale for $4 million
There's something a bit mysterious and captivating about the buildings along Queen Street.
While many of us know what the ground level of these buildings look like, especially if you're a Sweetie Pie fan, not many Torontonians can say they know what the rest of the building looks like.
Or maybe you're like us and just curious about what the commercial store frontage is actually worth for a place right on Queen St. West.
Either way, the recent listing of 654 Queen St. W satisfies both of these curiosities.
Listed for $3,980,000, this three-storey mixed commercial and residential building boasts approximately 3,300 square feet of space.
On the main floor, you have the retail space, which is currently being leased to Sweetie Pie's bakery, one of blogTO's best pie makers.
This lease also has the option for an extension, according to the listing.
The space is bright and airy with soaring ceilings, but you'd know that if you've ever been inside.
What you might not know is what the residential part of this building looks like.
On the second level of the house is the living room and kitchen of a two-bedroom, two-storey, pied-a-terre.
It was originally designed for a mother who wanted a spot to stay while visiting her daughter in Toronto.
But it has since become a lovely rental apartment.
It's spacious, bright and recently renovated.
There's also plenty of character with features like exposed brick walls, stained glass windows.
On the third level are the bedrooms for the two-bedroom apartment as well as a four-piece bathroom and a patio.
The rear half of the second floor also has a studio apartment with a small kitchen, three-piece bathroom and a large deck.
Both the apartments are tenanted. The two-bedroom apartment is on a month-to-month tenancy, while the studio is on a year contract.
This is great if you're looking to invest in a building and make some rental income, but if you'd like to live in one of the units you'll have to kick somone out.
Another major downside to this place is there is ZERO parking, which right now is only a problem for the tenants but could be an issue if you moved in.
Parking or no parking, this building is in a primo location and has three sources of revenue.
The listing also hints that the rental income is sweet as pie, stating that it has an "excellent cap rate with annual rent escalation."
This building also has a basement with eight-foot ceilings for extra space and a backyard.
And with the possibility of free pie every now and again what more could you want in an investment property?
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