$2,600,000 - 140 Main Street, Milton
Commercial for Sale in Milton
Neighbourhood: 1035 - OM Old Milton
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- MLS Number
- W13769136
- Property Type
- Commercial
- Status
- active
- Days on Site
- 27
- Bedrooms
- 0
- Bathrooms
- 5
- Square Feet
- 4,254 sqft
- Neighbourhood
- Milton
- Taxes (2026)
- $14,551
- Listing Brokerage
- ROYAL LEPAGE MEADOWTOWNE REALTY
Rare 4,254 SF freestanding mixed-use investment opportunity on a 0.10-acre site in the heart of Downtown Milton on Main Street East. Situated on a 33.46' x 132.74' lot with Main Street exposure, signage visibility and rear parking. Originally built in 1913, and substantially renovated in 1998, while adding a two-storey rear addition with 2 more apartments, the building offers approximately 2,077 SF on the main floor and 2,177 SF of residential space above. The main floor includes approximately 1,750 SF of retail space currently built out as a hair salon/barber shop, plus approximately 327 SF at the rear containing two small garage/storage areas, additional office with 1/2 bath and access to the second floor. Commercial space is serviced by forced-air gas heat (approx 5 yrs old) and central air conditioning. The second floor contains three self-contained apartments: Unit 201 is approximately 1,025 SF with 2 bedrooms and 2 skylights; Unit 202 is approximately 625 SF with 1 bedroom and a skylight; and Unit 203 is approximately 500 SF with 1 bedroom and a skylight. Each apartment includes a 4-piece bathroom. Apartments feature electric baseboard heating and wall-mounted air conditioning. Building features 400-amp electrical service with separate metering for each tenant. Located within Milton's Central Business District with CBD-A zoning permitting a wide variety of commercial and residential uses. The property also forms part of the HUSP Urban Area, offering significant redevelopment and intensification potential. The existing two-storey building does not represent the site's full development potential, with opportunities for additional building height and density, subject to applicable zoning, planning requirements and municipal approvals. Downtown location close to municipal parking and Town Hall, with convenient access to Highway 401 via Regional Road 25. There is an information package on this property, please reach out to Agent for a copy.
Estimate your monthly payments for this property
Estimated Payment
$11,500.68/mo
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 1035 - OM Old Milton
1035 - OM Old Milton 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 1035 - OM Old Milton
- •Convenient location in Milton
- •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
1035 - OM Old Milton 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.
140 Main Street, Milton
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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 $611/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 27-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 Milton transactions.