$3,500/mo - 3042 Keele Street, Downsview
Commercial for Rent in Downsview
67 days on marketNeighbourhood: Downsview-Roding-CFB
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- MLS Number
- W13628994
- Property Type
- Commercial
- Status
- active
- Days on Site
- 67
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,116 sqft
- Neighbourhood
- Downsview / Black Creek
- Taxes (2026)
- $18,092
- Listing Brokerage
- CENTURY 21 PEOPLE`S CHOICE REALTY INC.
$3,500 Net Lease Monthly Rent + $1,507.66 TMI Monthly Contribution & $4 Per Sq Ft for Utilities Monthly - 3 to 4 Parking Spaces Available in the Back and 1 in the Front - Bright & Large Office Spaces Available For Lease - The Unit is Located On The Main Floor - 2,116 Sq Ft - Great Opportunity for Professional Use - Zoning is RM - Permitted Uses are Ambulance Depot (1) - Cogeneration Energy (2) - Community Centre (3) - Crisis Care Shelter (4) - Day Nursery (5) - Fire Hall (1) - Garden Suite (20) - Group Home (6) - Home Occupation (7) - Laneway Suite (19) - Library (3) - Multi-tenant House (14) - Nursing Home (8) - Place of Worship (9) - Police Station (1) - Private Home Daycare (10) - Public Utility (11, 12) - Renewable Energy (2) - Residential Care Home (6) - Respite Care Facility (13) - Retirement Home (8) - Secondary Suite (15) - Seniors Community House (16) - Short-term Rental (18) - Transportation Use (17) - Main Floor Had Previous Operations as Medical/Dentist with Legal Non Conforming Use - Landlord to Approve All Uses At Their Discretion - Tenants to Due Their Due Diligence - Washrooms Available in the Building - Kitchen & 2 Pc Bathroom Available in the Units - Lots of Potential to Use Separate or combine for Large Space - Front Entry and Side Entry - A Must View to Visualize The Potential - Potential for Walk in Traffic With Front Signage - 75 Walkscore Very Walkable - Accessible by Transit - Excellent North York Location - Close to Humber River Hospital - Yorkdale Shopping Centre - Hwy 401 - Downsview Park - Downsview Station - Sheridan Mall - Local Restaurants - Newly Built Homes & Condos Nearby - Growing Population - Utilities Will not be Capped and Increased Based on Use and Business! Keele & Sheppard and Keele and Wilson are the Closest Intersections! Huge Development and Population Growth Happening at Keele & Sheppard for New Housing Developments & More Downsview Park Housing Development on the way!
Discover Downsview-Roding-CFB
Downsview-Roding-CFB 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 Downsview-Roding-CFB
- •Convenient location in Downsview / Black Creek
- •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
Downsview-Roding-CFB 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.
3042 Keele Street, Downsview / Black Creek
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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 67 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 Downsview transactions.