$365,000
FOR SALE

Franchise Business for Sale

Restaurant

259 King St E #25431
Toronto, ON M5A 1K2 | Moss Park

Superb Franchise restaurant opportunity located at King St E & Sherbourne St, heart of downtown Toronto. Features include Restaurant surrounded by George Brown College campus, major offices/banks & condos ensuring strong and stable customer base for lunch + dinner. Great potential for 24/7 operations. Directly connected to TTC, street cars (East/West) and bus service (North/South). Large condo towers by reputed builders: Pemberton - Time & Space 29 storeys complete 1600 condos - occupants moving in, Cityzen & Fernbrook - St Lawrence Condos 26 storeys complete 482 condos -occupants moving in, Menkes - The Whitefield - 39 storeys under construction 470 condos, First Gulf - EQ Bank Tower 23 Floors Exterior complete, working on interiors - anticipated ready to move in by Q1 2025.These developments bringing in estimated 9000+ new customers (in addition to existing customers) within 300m of the restaurant. At least 3 other major developments including Fitzrovia Retirement Homes anticipated to break ground soon within 100 meters of the restaurant; Notice by City of Toronto are up. New LRT is located within walking distance, Scotia Bank & Waddington Auction House located next door; National Bank, RBC, BMO; CIBC, Globe & Mail (Air Miles, Yellow Pages, many more) within 2 minute walk; Coca-Cola National Office and No Frills located within 50 meters; LCBO, Pet Store, Toronto Opera Company, Fire Station within 1 minute. This restaurant has the latest equipment: complete remodel including all equipment: 2 cold wells,1 hot well, 1 proofing & baking unit, 2 toaster ovens, Brand new HVAC unit, LED Lighting, New flooring and walls, seating capacity for up to 32 guests with 2 Toilets (plus small office space). Rapidly developing customer base; average household income of $135,000. Rent frozen for 2yrs and lease good thru 2028 with another option to extend the lease by another 5 yrs. Low TMI. Net Price includes all brand new equipment, furniture, newly installed HVAC, inventory.
Extras
This turnkey ready to move in restaurant presents a rare opportunity for new entrepreneurs (immigrants and citizens alike ensuring long term employment and ownership); Seller open to partnership.
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Listed By ROYAL LEPAGE/J & D DIVISION
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number C9282572
Last Updated Aug 28, 2024
Property Summary
Property Type Business For Sale

More like this:
Use Restaurant
Franchise Franchise
Category Without Property
Occupancy Own+Ten
Possession Date ASAP
Directions/Cross Streets King St E & Sherbourne St
Neighbourhood Moss Park
Area Toronto
Price History

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Detailed Information
Freestanding N
Bathrooms 2
Retail Area 1,350 ft2
Approximate Age 16-30
Elevator None
Air Conditioning Y
Basement N
Chattels Y
Garage Type None
Days Open 7
Hours Open 12-14
LLBO N
Employees 4
Heat Type Elec Forced Air
Financial Statement Y
Seats 32
Sprinklers Y
Utilities N
Water Municipal
Lot/Bldg/Unit Code Unit
Zoning Commercial
Seller Property Info Statement N

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