$899,888 - 131R Millicent Street, Bloor West Village
Commercial for Sale in Bloor West Village
Neighbourhood: Dovercourt-Wallace Emerson-Junction
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- MLS Number
- W13792634
- Property Type
- Commercial
- Status
- active
- Days on Site
- 21
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,453 sqft
- Neighbourhood
- Bloor West Village / Swansea
- Taxes (2025)
- $5,145
- Listing Brokerage
- RE/MAX GOLD REALTY INC.
Freehold industrial/commercial building on a rear lot with laneway access (via Armstrong/Emerson) in Toronto's Dovercourt-Wallace Emerson-Junction neighbourhood, inside a Major Transit Station Area (eliminates minimum parking requirements). No direct street frontage - access via laneway only. Confirmed building GFA 1,453 sf exterior / 1,288 sf interior per September 2026 professional floor plan. Lot approximately 2,950 sf. Zoned R(d0.6)(x740) with a long-standing history of commercial use and commercial tax assessment. Recent capital improvements include a replaced roof and trusses and an upgraded 100A electrical service with hydro active. Phase II Environmental Site Assessment (January 2026) came back clean with no exceedances. The neighbouring property recently completed a two-storey laneway build, demonstrating redevelopment feasibility on this laneway; multiplex and sixplex zoning frameworks apply in this ward, subject to frontage/access review by a purchaser. Vacant with flexible, quick possession. Buyer to conduct independent due diligence on all zoning, redevelopment, and servicing matters. All information deemed reliable but not guaranteed.
Estimate your monthly payments for this property
Estimated Payment
$4,616.89/mo
Includes CMHC insurance ($25,107)
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 Dovercourt-Wallace Emerson-Junction
Dovercourt-Wallace Emerson-Junction 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 Dovercourt-Wallace Emerson-Junction
- •Convenient location in Bloor West Village / Swansea
- •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
Dovercourt-Wallace Emerson-Junction 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.
131R Millicent Street, Bloor West Village / Swansea
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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 $619/sqft, this is priced in the upper range for GTA commercial — typical for prime locations or newer buildings. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Commercial Market Pace
Commercial real estate transactions typically take 60–120 days from offer to close — longer than residential — due to financing conditions, environmental reports, and tenant estoppel reviews. This 21-day listing is within normal commercial market exposure.
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 Bloor West Village transactions.