$249,999 - 243 Lakeshore East Road, Mississauga
Commercial for Sale in Mississauga
39 days on marketNeighbourhood: Port Credit
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- MLS Number
- W13724932
- Property Type
- Commercial
- Status
- active
- Days on Site
- 39
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,200 sqft
- Neighbourhood
- Mississauga
- Listing Brokerage
- REALTY ONE GROUP FLAGSHIP
Rare opportunity to acquire a beautifully appointed, turnkey bakery and café business in the heart of Port Credit! Located at 243 Lakeshore Road East, this charming and thoughtfully designed space offers a warm, inviting atmosphere with a distinctive aesthetic that is sure to leave a lasting impression. The sale includes the business assets, equipment, fixtures and chattels, providing an excellent opportunity for an entrepreneur to step into a fully equipped operation or bring their own culinary concept to an established space.The professionally designed commercial kitchen features a commercial-grade hood complete with fire suppression system, air make-up unit, extensive prep and storage areas, stainless steel refrigeration, multiple workstations and quality small appliances. Small appliances include Smeg, the renowned Italian brand frequently admired by customers, while the Igloo display refrigerator adds both functionality and visual appeal. Additional features include Square Point of Sale system, Google Nest Audio smart speakers, electric wiring for an exterior sign, camera wiring at both the front and rear of the premises, and original functional radiators.The bright and stylish customer-facing area offers an inviting café atmosphere with attractive finishes, ample display space and a charming storefront presence along Lakeshore Road East. Ideal for a bakery, café, dessert concept, specialty food business or similar culinary venture. Business and assets only. Real estate is not included. Premises are leased and any proposed tenant is subject to landlord approval and applicable lease terms. A fantastic opportunity to take over a professionally equipped space and make it your own in one of Mississauga's most sought-after and vibrant communities.
Estimate your monthly payments for this property
Estimated Payment
$1,282.62/mo
Includes CMHC insurance ($6,975)
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.
Waterfront Living at Its Finest
Port Credit is Mississauga's premier waterfront community, offering stunning Lake Ontario views and a vibrant village atmosphere. This sought-after neighbourhood combines urban amenities with natural beauty, featuring a bustling marina, eclectic restaurants, and beautiful waterfront parks. The area has undergone significant revitalization, making it one of the most desirable addresses in the GTA.
Why Live in Port Credit
- •Direct access to Lake Ontario waterfront and marina
- •Award-winning restaurants and local boutiques
- •Port Credit GO Station for easy Toronto commuting
- •Active arts and culture scene
- •Year-round festivals and community events
Nearby Schools
Transit & Commuting
- •Port Credit GO Station - 25 minutes to Union Station
- •MiWay bus connections throughout Mississauga
- •Waterfront Trail for cycling
- •15-minute drive to Toronto Pearson Airport
Parks & Amenities
- •Port Credit Marina
- •J.C. Saddington Park
- •Port Credit Memorial Park
- •Waterfront Trail
- •Local cinema and performance venues
Lifestyle & Community
Port Credit offers an enviable waterfront lifestyle with the convenience of urban living. Residents enjoy morning walks along the lake, dining at acclaimed restaurants, and weekend sailing. The area attracts young professionals, families, and retirees who appreciate the active, social atmosphere.
243 Lakeshore East Road, Mississauga
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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 $114/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.
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 39-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 Mississauga transactions.