$320,000 - 37 Dunlop Street Unit Mexhico Restaurant, Barrie
Commercial for Sale in Barrie
173 days on marketNeighbourhood: City Centre
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- MLS Number
- S13012346
- Property Type
- Commercial
- Status
- active
- Days on Site
- 173
- Bedrooms
- 0
- Bathrooms
- 2
- Square Feet
- 1,512 sqft
- Neighbourhood
- Barrie
- Listing Brokerage
- RE/MAX HALLMARK PEGGY HILL GROUP REALTY
MEXICAN RESTAURANT IN A VIBRANT DOWNTOWN LOCATION WITH STRONG VISIBILITY, CONSISTENT REVENUE, & A LOYAL FOLLOWING! This popular Mexican restaurant offers a rare chance to step into a well-established business in the heart of downtown Barrie, perfectly placed just steps from the waterfront in a high-demand corridor. Set on a standout corner in a vibrant pedestrian-friendly stretch, the business enjoys exceptional visibility and a constant flow of foot and vehicle traffic, with easy access from Hwy 400 drawing both locals and destination diners from surrounding communities. Inside, guests are welcomed into a 40-seat dining room where warm, authentic character is created through thoughtful design, curated music, and cohesive detailing, while a seasonal patio extends the experience outdoors with an inviting summer dining atmosphere. Strong, consistent revenue and all operational systems in place, along with a transferable liquor licence ensuring a seamless continuation of service. The concept itself is what truly sets this opportunity apart, operating within an underserved plant-based niche in Barrie and cultivating a loyal following, supported by a distinctive menu inspired by family recipes that deliver bold, unforgettable flavours. A powerful digital footprint, reinforced by online reviews and an engaged social media community, continues to drive discovery, trust, and steady demand. Further growth potential is significant, including extended hours, catering services, house-made retail products, and ongoing menu innovation. More than just a restaurant, this is a true community hub, hosting a range of events and maintaining strong collaborative ties with neighbouring businesses, amplifying its presence and cultural footprint. Financial details are available to qualified buyers.
Estimate your monthly payments for this property
Estimated Payment
$1,641.77/mo
Includes CMHC insurance ($8,928)
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 City Centre
City Centre 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 City Centre
- •Convenient location in Barrie
- •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
City Centre 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.
37 Dunlop Street Unit Mexhico Restaurant, Barrie
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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 $212/sqft, this is priced in the mid-range for GTA commercial space. 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 173 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 Barrie transactions.