$26/mo - 3040 Don Mills Road Unit 24, Bayview Village
Commercial for Rent in Bayview Village
131 days on marketNeighbourhood: Don Valley Village
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- MLS Number
- C13105138
- Property Type
- Commercial
- Status
- active
- Days on Site
- 131
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 5,135 sqft
- Neighbourhood
- Hillcrest Village / Bayview Village
- Lot Size
- 5,135 sqft
- Listing Brokerage
- RC BEST CHOICE REALTY CORP
Located in the well-established Peanut Plaza, this vacant unit offers 5,135 sq.ft. of versatile space in one of North York's most active retail destinations. Surrounded by high-rise apartments, schools, offices, and major retailers, the plaza benefits from steady pedestrian and vehicular traffic throughout the day. This established shopping centre is anchored by Tone Tai Supermarket, Bank of China, IDA Drug Mart, Dollarama, and McDonalds. It also features a carefully selected mix of needs based retailers and service providers creating a constant draw of consumers to the shopping centre. Abundant surface parking throughout the plaza makes short stops and repeat visits effortless. With convenient access from both Don Mills Road and Van Horne Avenue, and close connections to TTC bus routes, this unit provides excellent visibility and accessibility-ideal for a wide range of retail, service, or office uses.
Discover Don Valley Village
Don Valley Village 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 Don Valley Village
- •Convenient location in Hillcrest Village / Bayview Village
- •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
Don Valley Village 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.
3040 Don Mills Road Unit 24, Hillcrest Village / Bayview Village
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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
Commercial property values in Bayview Village are driven by location, zoning, current tenancy, and income potential — not the same $/sqft benchmarks as residential. I'll run a proper comparable sales analysis using recent commercial transactions in this area.
Extended Exposure — Negotiating Room
At 131 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 Bayview Village transactions.