$70,000 - 290 Yorktech Drive Unit 17, Markham
Commercial for Sale in Markham
401 days on marketNeighbourhood: Buttonville
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- MLS Number
- N12372722
- Property Type
- Commercial
- Status
- active
- Days on Site
- 401
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,427 sqft
- Neighbourhood
- Markham
- Taxes (2025)
- $5,422
- Listing Brokerage
- HC REALTY GROUP INC.
SALE OF LEASEHOLD IMPROVEMENTS / LEASE ASSIGNMENT OPPORTUNITY - BUSINESS, BRAND, EQUIPMENT & CHATTELS NOT INCLUDED. Excellent opportunity to take over a professionally designed and extensively improved commercial unit in a prime Markham location near First Markham Place and Hwy 7. The premises have undergone substantial leasehold improvements and offer an attractive, finished interior that may significantly reduce the time and cost associated with starting from a raw or unimproved commercial space. Existing lease runs until November 2027, with a renewal option, subject to the terms of the lease and landlord requirements. Current lease rate is below prevailing market rates, providing an additional advantage to an incoming operator. Ideal for a buyer seeking an established commercial space that can be adapted to their own concept, subject to zoning, permitted use, landlord approval and any applicable municipal requirements. Moneta Foto's business name, goodwill, customer database, social media accounts, photography equipment and other business assets are specifically excluded from the sale. Buyer to conduct their own due diligence regarding intended use, permits, licensing, lease assignment and landlord approval. Please do not go direct or disturb the operating business. Showings by appointment only.
Estimate your monthly payments for this property
Estimated Payment
$359.14/mo
Includes CMHC insurance ($1,953)
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 Buttonville
Buttonville 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 Buttonville
- •Convenient location in Markham
- •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
Buttonville 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.
290 Yorktech Drive Unit 17, Markham
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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 $49/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 401 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 Markham transactions.