$178,888 - 228 Queens Quay Unit 8, Downtown Toronto
Commercial for Sale in Downtown Toronto
161 days on marketNeighbourhood: Waterfront Communities C1
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- MLS Number
- C13058540
- Property Type
- Commercial
- Status
- active
- Days on Site
- 161
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2025)
- $21
- Listing Brokerage
- HOMELIFE/ROMANO REALTY LTD.
BE YOUR OWN BOSS - RARE WATERFRONT RETAIL OPPORTUNITY ON QUEENS QUAY, IDEALLY POSITIONED IN ONE OF TORONTO'S MOST VIBRANT AND HIGH-TRAFFIC WATERFRONT COMMUNITIES, WITH ANTICIPATED INCREASED TOURISM DRIVEN BY UPCOMING FIFA WORLD CUP EXPECTED TO DRAW OVER 300,000 VISITORS TO THE CITY. CURRENTLY OPERATING AS BACCO MARKET, A PREMIUM EUROPEAN-STYLE BOTTEGA AND SPECIALTY FOOD MARKET, THIS IS AN EXCELLENT OPPORTUNITY FOR AN ENTREPRENEUR TO TAKE OVER A WELL-ESTABLISHED, RECOGNIZED, AND TURN-KEY STOREFRONT IN AN UNBEATABLE LOCATION. THE PREMISES OFFER APPROXIMATELY 1,200 SQ. FT. OF EFFICIENTLY LAID-OUT SPACE, FEATURING A CURATED IN-STORE RETAIL PROGRAM, HIGH-END FIXTURES AND LEASEHOLD IMPROVEMENTS, AND A FULLY INTEGRATED ONLINE ORDERING PLATFORM SUPPORTING BOTH IN-STORE AND DELIVERY SALES.THE BUSINESS BENEFITS FROM STRONG BRAND PRESENCE, AN ESTABLISHED CUSTOMER BASE, AND MULTIPLE REVENUE STREAMS INCLUDING GROCERY, PREPARED FOODS, AND SPECIALTY IMPORTS. EXISTING LICENSING INCLUDES LOTTERY, TOBACCO, ALCOHOL, AND FOOD PREPARATION. SURROUNDED BY MAJOR ANCHORS AND DESTINATIONS SUCH AS LOBLAWS, STARBUCKS, SHOPPERS DRUG MART, BILLY BISHOP AIRPORT, THE TORONTO MUSIC GARDEN AND THE WATERFRONT TRAIL, THE LOCATION BENEFITS FROM EXCEPTIONAL FOOT TRAFFIC, A DENSE RESIDENTIAL COMMUNITY, AND CONSISTENT YEAR-ROUND TOURISM . AN IDEAL OPPORTUNITY FOR AN OWNER-OPERATOR OR BRAND LOOKING TO EXPAND INTO A HIGH-EXPOSURE WATERFRONT LOCATION WITH EXISTING INFRASTRUCTURE AND IMMEDIATE OPERATING CAPABILITY.
Estimate your monthly payments for this property
Estimated Payment
$917.79/mo
Includes CMHC insurance ($4,991)
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 Waterfront Communities C1
Waterfront Communities C1 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 Waterfront Communities C1
- •Convenient location in Downtown Toronto / Waterfront
- •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
Waterfront Communities C1 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.
228 Queens Quay Unit 8, Downtown Toronto / Waterfront
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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 $149/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.
Extended Exposure — Negotiating Room
At 161 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 Downtown Toronto transactions.