$1/mo - 116-120 tycos Drive, York
Commercial for Rent in York
92 days on marketNeighbourhood: Yorkdale-Glen Park
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- MLS Number
- W13533674
- Property Type
- Commercial
- Status
- active
- Days on Site
- 92
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 39,334 sqft
- Neighbourhood
- York / Weston
- Taxes (2025)
- $89,826
- Listing Brokerage
- HIGH POINT REALTY LIMITED
We are pleased to offer for sale two side by side, fully leased, fully renovated industrial buildings on Tycos Drive in Toronto, Ontario. An exceptional opportunity to acquire two well maintained industrial assets providing stable income from established tenancies. The offering combines strong in place income, quality improvements, excellent tenant appeal and a strategic Toronto location with long term ownership upside. An ideal acquisition for investors seeking secure cash flow, pride of ownership real estate and a foothold in one of Toronto's most desirable urban industrial districts known as the Castlefield Design District. The properties benefit from exposure within one of the city's most active and evolving commercial and industrial nodes which has been transformed into a vibrant destination for interior design, home décor, specialty showroom, trade, service and light industrial businesses. Buyer can occupy 14,651 sf of front prime space.
Discover Yorkdale-Glen Park
Yorkdale-Glen Park 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 Yorkdale-Glen Park
- •Convenient location in York / Weston
- •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
Yorkdale-Glen Park 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.
116-120 tycos Drive, York / Weston
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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 York 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 92 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 York transactions.