$3,600/mo - 239 Colborne Street, London East
Commercial for Rent in London East
149 days on marketWant to see this home in person?
Book a private showing with Joe — pick a day and time that works for you.
- MLS Number
- X13109270
- Property Type
- Commercial
- Status
- active
- Days on Site
- 149
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,096 sqft
- Neighbourhood
- London East
- Lot Size
- 5,412 sqft
- Listing Brokerage
- ROYAL LEPAGE TRILAND REALTY
Located at the prominent corner of Colborne and Horton Streets, this freestanding 2,096 sq. ft. office building offers excellent exposure in a central London location. Fully furnished and well laid out, the space suits a variety of professional uses. ZonedR8-4/AC4, the property permits commercial occupancy.The current configuration includes eight private offices, a welcoming reception area, and a kitchen, making it easy for a business to move in and get up and running. A wheelchair-accessible rear entrance adds to the building's functionality.Spanning two floors, the property is a fully detached structure with private entrances and has undergone several recent updates, giving it a clean, professional feel throughout. Its location offers quick access to downtown, public transit, and major arterial routes, making it ideal for both staff and clients.Well-suited for professional offices such as legal, accounting, consulting, counselling, mediation, or other service-based businesses seeking a central, highly visible location.Offered at a gross monthly rent of $3,600 plus HST and utilities, with snow removal included.
Discover London East
London East 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 London East
- •Convenient location in London East
- •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
London East 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.
239 Colborne Street, London East
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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 $2/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 149 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 London East transactions.