$36/mo - 101 Richmond Street Unit Second Floor, Cabbagetown
Commercial for Rent in Cabbagetown
217 days on marketNeighbourhood: Church-Yonge Corridor
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- MLS Number
- C12778440
- Property Type
- Commercial
- Status
- active
- Days on Site
- 217
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 3,575 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Listing Brokerage
- COLLIERS
101 Richmond Street East is a newly renovated loft-style commercial building located at the prominent corner of Richmond Street East and Jarvis Street, in downtown Toronto. Total leasable area is approximately 3,575 square feet on the second floor. The second floor is configured as general office space with an open layout, one enclosed meeting room, a kitchen area, and a mezzanine component, complemented by high exposed ceilings that deliver a distinctive loft-style character. Second floor benefits from full air conditioning and forced-air natural gas heating, with all utilities provided municipally. The premises is delivered in clean, broom-swept condition and freshly painted. Additional features include underground parking, supplemental Green P Parking located just adjacent to the property, and access to a rooftop patio offering city views. The property is situated in the Old Town and Church-Yonge Corridor area, within walking distance of Toronto's Financial Core, Union Station, Queen Subway Station, and a wide range of restaurants, retail and amenities. The location provides excellent walkability, transit connectivity, and overall accessibility, making the building well-suited for office users, professional services, or boutique retail tenants seeking a centrally located, character-rich space.
Discover Church-Yonge Corridor
Church-Yonge Corridor is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Church-Yonge Corridor
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Church-Yonge Corridor offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
101 Richmond Street Unit Second Floor, Regent Park / Cabbagetown / St. James Town
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Key factors for evaluating this commercial property
Commercial Due Diligence Checklist
· Verify zoning and all permitted uses
· Review all existing leases (terms, renewals, net vs. gross)
· Request estoppel certificates from all tenants
· Order a Phase 1 Environmental Site Assessment
· Commission a property condition assessment
· Review operating costs (taxes, insurance, maintenance)
Commercial Financing Note
Commercial mortgages require 20–35% down, shorter amortization, and lenders underwrite based on the property's income. CMHC insurance is not available for commercial. Connect with a commercial mortgage broker early.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Commercial Pricing Context
Commercial property values in Cabbagetown are driven by location, zoning, current tenancy, and income potential — not the same $/sqft benchmarks as residential. I'll run a proper comparable sales analysis using recent commercial transactions in this area.
Extended Exposure — Negotiating Room
At 217 days on market, this commercial property has had significant exposure. Commercial listings typically take longer to sell than residential, but this timeline may indicate pricing or tenancy issues worth exploring. A motivated seller often means better terms for a prepared buyer.
Zoning & Permitted Use — Verify First
I always confirm the zoning and permitted uses before a client gets too far into a commercial transaction. What a property is currently used for and what it's legally permitted for are sometimes different. If you plan to change the use, a zoning amendment or minor variance may be required — that's additional cost, time, and risk.
Tenancy & Income Review
If this property has existing tenants, I'd want to review all leases carefully: term lengths, renewal options, rent amounts, escalation clauses, and who's responsible for operating costs (gross lease vs. net lease). A strong long-term tenant is an asset; a lease expiring at closing is a different story. We'll request estoppel certificates from all tenants.
Environmental & Due Diligence
A Phase 1 Environmental Site Assessment is standard practice for commercial purchases in Ontario. If historical industrial use is flagged, you'll need a Phase 2. I also recommend a property condition assessment covering structure, roof, HVAC, and electrical — commercial systems are expensive to replace and often not disclosed in detail on the listing.
Commercial Financing Realities
Commercial mortgages work differently than residential. Expect 20–35% down, shorter amortization (15–25 years), and lenders who underwrite based on the property's income, not just your personal financials. CMHC insurance is generally not available for commercial, and rates are typically higher. I can connect you with commercial mortgage brokers who specialize in Cabbagetown transactions.