$350,000 - 379 Dundas Street Unit 118-119, London East
Commercial for Sale in London East
219 days on marketNeighbourhood: East K
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- MLS Number
- X12685924
- Property Type
- Commercial
- Status
- active
- Days on Site
- 219
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 4,010 sqft
- Neighbourhood
- London East
- Listing Brokerage
- SUTTON GROUP PREFERRED REALTY INC.
1st Floor Commercial Condos in Downtown London - Units 118 & 119 - 379 Dundas Street, aka London Towers. Units are being sold together at a total of 4,010 sqft of space. With DA2 Zoning they would make great office spaces for Insurance, Realty or Legal OR service trades like RMT, Physio or Medical plus many other business possibilities. Both units have updated vinyl laminate flooring and fresh paint. UNIT 118 at 1,880 sqft has an open reception area with view of the common area foyer. As you move through the space you'll find 9 private offices, a kitchen, storage areas and access to the emergency exit. UNIT 119 at 2,130 sqft has an open Reception Area with view of the atrium entrance. There is a private office, a large conference room, an open workstation area & kitchenette with wet bar, storage rooms, large rear room & access to emergency exit. Each unit has 1 underground parking spot on Level P2 #197 & #198. Other underground spots are available for rent. The owner has the advantage of using the building amenities such as: Pool, Fitness Area, Sauna, Windham Party Room & Outdoor Roof Top Area. The D2 (Downtown) Zoning allows for various types of retail, service and office business uses. There is secure fob entrance, building is wheelchair accessible with an elevator to access the 2nd floor commercial space. There are common area washrooms on the 1st & 2nd floors. Monthly Condo Fees Include: heat, hydro, water, common area maintenance, exterior maintenance, snow removal & the maintenance person is available 24/7. Located minutes to many downtown amenities like Delta Hotels London Armouries, Canada Life Place, Victoria Park & Richmond Row shops.
Estimate your monthly payments for this property
Estimated Payment
$1,795.68/mo
Includes CMHC insurance ($9,765)
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 East K
East K 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 East K
- •Convenient location in London East
- •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
East K 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.
379 Dundas Street Unit 118-119, London East
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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 $87/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 219 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 London East transactions.