$5,300/mo - 1271 Gerrard Street, Leslieville
Commercial for Rent in Leslieville
New — Listed 5 days agoNeighbourhood: South Riverdale
- MLS Number
- E13688594
- Property Type
- Commercial
- Status
- active
- Days on Site
- 5
- Bedrooms
- 0
- Bathrooms
- 3
- Square Feet
- 1,606 sqft
- Neighbourhood
- Riverdale / Leslieville
- Listing Brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
Positioned in the heart of prime South Riverdale, 1271 Gerrard Street East presents a rare commercial-residential blend that perfectly captures the modern desire for sophisticated live-work flexibility. This exceptional property sits on a generous 17.45 x 110-foot lot, offering dedicated two-car rear parking along side incredible laneway garden house potential. Designed with an elegant fusion of sophistication and functionality, the multi-level layout features 3+1 bedrooms and 3 bathrooms, anchored by a main-floor office or store front hybrid that easily functions as a fourth bedroom with a walkout patio. The interior shines with a thoughtfully renovated, open-concept culinary kitchen boasting a premium granite waterfall island, gourmet breakfast bar, high-end stainless-steel appliances, and seamless custom cabinetry. Luxuriously appointed bathrooms elevate daily routines with matte black fixtures, LED mirrors, and sleek glass-panel showers, while a high-height basement provides additional versatile depth. Stepping outside, the backyard opens directly onto the magnificent 15-acre Greenwood Park,granting backdoor access to a premier urban sanctuary complete with a swimming pool, ice rink, lit ball diamonds, and a dog park. Embracinga highly walkable and ecologically minded lifestyle, residents are steps from the vibrant artisan culture, elite dining, and shopping of Leslieville, Chinatown, and the Gerrard India Bazaar. With a storefront streetcar at your doorstep connecting effortlessly to the Bloor-Danforth subway and the downtown core, this address effortlessly pairs supreme urban transit with close proximity to Woodbine Beach and Ashbridges Bay.
Discover South Riverdale
South Riverdale 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 South Riverdale
- •Convenient location in Riverdale / Leslieville
- •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
South Riverdale 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.
1271 Gerrard Street, Riverdale / Leslieville
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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 $3/sqft, this is priced on the lower end for commercial, which warrants investigating condition, zoning restrictions, and tenancy. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Just Listed — Take Your Time
This property just hit the market. Commercial due diligence is thorough and takes time — environmental assessments, lease review, financial statement analysis, and zoning confirmation. Unlike residential, there's rarely a multiple-offer frenzy. Act with focus, not urgency.
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 Leslieville transactions.