497 church street toronto

Toronto neighbourhood grocery and fruit market is up for sale at just $1

A Church Street establishment open since 1966 is up for sale for the very low price of just $1, but anyone looking to score an established neighbourhood business with a loyal customer base will likely have to fork over a whole lot more than the sticker price.

The Pusateri Fruit Market at 497 Church Street is looking to sell to new owners, based on the listing for the property that has been active since late March.

497 church street toronto

The 3,073-square-foot property is described as a "high traffic and busy location" in the heart of the Church-Wellesley Village neighbourhood, with an owner "motivated to sell" advertising a rare chance to buy into a business.

497 church street toronto

At a list price of just $1, the owners are apparently trying to spark up a bidding war. However, prospective buyers mistakenly under the impression they'll be able to buy the business for cheaper than a pack of gum sold within will be disappointed to learn that this is merely a marketing tactic.

497 church street toronto

Properties, or in this case, businesses, listed for a buck appear near the top of listing sites when sorted by price, designed to catch the eyes of buyers seeking a deal without showing the owner's hand too early in the game.

If the name of the establishment sounds familiar, there's a good reason.

Though not part of the chain of high-end Pusateri's supermarkets, the business was indeed founded and operated by the son-in-law of the supermarket chain owner, and his business partners.

Former owners Joe Pusateri, Frank Mangione and Tony Cerminara eventually sold off the business to new owners Helen and Bin in 2013 after over 47 years of running the market.

And now, those owners have decided to pass on the torch once more after a decade of management.

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