$349,000 - 1200 Highway 7 N/A Unit 1, Vaughan
Commercial for Sale in Vaughan
66 days on marketNeighbourhood: Patterson
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- MLS Number
- N13630064
- Property Type
- Commercial
- Status
- active
- Days on Site
- 66
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,633 sqft
- Neighbourhood
- Vaughan
- Listing Brokerage
- RE/MAX PREMIER INC.
**Highly Profitable Restaurant For Sale, Generating Over $1 Million In Annual Sales.** What If You Could Skip The Hardest Part Of Starting A Restaurant?No Construction, No Costly Renovations, No Trial And Error, And No Spending Years Building A Loyal Customer Base And Strong Reputation. This Is A Rare Opportunity To Own A Well-Established, Profitable Restaurant That Is Fully Equipped And Ready To Operate From Day One.The Business Has Built A Strong Reputation With A **4.8-Star Google Rating From Over 1,300 Reviews** And More Than **17,700 Organic Instagram Followers**, Creating Excellent Brand Recognition And A Loyal Customer Base.Completely Renovated From Top To Bottom In 2024, The Restaurant Offers **56 Indoor Seats Plus 14 Patio Seats**. It Is Ideally Located On Busy Highway 7 With Prime Corner Exposure, High Daily Traffic, Easy Access, And Plenty Of Customer Parking.The Affordable **All-Inclusive Lease Of Only $8,500 Per Month** Is Secured Until September 2030. The Restaurant Is Fully Equipped With High-Quality Commercial Equipment, Including A 10-Foot Hood, An 8-Foot Custom Charcoal Hood With A 6-Foot Charcoal Barbecue, A 5 Ft x 5 Ft Custom Imported Stone Oven, Walk-In Cooler, Walk-In Freezer, And Everything Needed To Continue Operations Immediately.Continue The Existing Successful Concept Or Introduce Your Own. There Is Excellent Growth Potential By Adding Alcohol Service, Extending Operating Hours To Seven Days A Week, And Increasing Marketing Efforts.A True Turnkey Opportunity Where The Hard Work Has Already Been Done.
Estimate your monthly payments for this property
Estimated Payment
$1,790.55/mo
Includes CMHC insurance ($9,737)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Patterson
Patterson 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 Patterson
- •Convenient location in Vaughan
- •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
Patterson 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.
1200 Highway 7 N/A Unit 1, Vaughan
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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
At $214/sqft, this is priced in the mid-range for GTA commercial space. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Extended Exposure — Negotiating Room
At 66 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 Vaughan transactions.