Toronto convenience store for sale at $600K is not quite what it seems
If you're hoping to be a convenience store owner then this Toronto listing might not be for you.
Though it appears the store at 480 Aylesworth Avenue in Scarborough is what's for sale, it's actually just the current occupant of a site destined for something entirely different.
For $599,9000, you can purchase this piece of land with the aim of repurposing it for a new home — but that quaint little convenience store is not included.
Only the land is for sale as the existing 'Smart Convenience' has already closed its doors for good, but don't fret, as there is an even more lucrative future in the cards for this land.
An application for a two-storey detached home has already been submitted and the property listing promises that a permit "should be in 2/3 months," meaning the buyer can get right to work on building a monster luxury home.
The application details a 2,000-square-foot dwelling with a two-bedroom separate basement apartment complete with its very own entrance — providing not one but two dwellings in the Birchcliffe-Cliffside neighbourhood.
The listing indicates the entire yet-to-be-built property will have a total of seven bedrooms (three below ground) and five bathrooms.
Seeing as this existing store will be torn down and there are no floor plans included for the new property, there aren't any photos to show for prospective buyers.
The price is based on the shuttered convenience store and will be "reassessed" after the new property is ready to move in.
A little bit strange, the MLS listing says there is "no regular mortgage for this property," and that a private loan could be arranged with a "40 per cent down payment and 8-9 per cent interest rate."
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