$230,000 - 383 Eglinton Avenue, Leaside
Commercial for Sale in Leaside
93 days on marketNeighbourhood: Mount Pleasant East
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- MLS Number
- C13527936
- Property Type
- Commercial
- Status
- active
- Days on Site
- 93
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 980 sqft
- Neighbourhood
- Leaside / Davisville
- Taxes (2026)
- $21,000
- Listing Brokerage
- REMAX YOUR COMMUNITY REALTY
Exceptional opportunity to own a well-established Gabby's Franchise Pub & Restaurant in one of Toronto's busiest locations at Eglinton Avenue East & Mount Pleasant Road. Successfully operating for over 35 years, this profitable licensed restaurant enjoys a loyal customer base, strong neighborhood presence, and excellent visibility in a high-traffic commercial area. Weekly sales are approximately $15,000 (as per Seller), with over 70% of revenue generated from liquor sales, producing an impressive 75%+ gross profit margin on liquor. Very affordable occupancy costs with rent and TMI totaling only $4,484 per month. The business also includes a large one-bedroom apartment upstairs, currently rented for $2,000 per month, providing valuable additional income and helping offset operating expenses. Long-term lease in place until October 2030, plus one additional 5-year renewal option, offering long-term security. Fully LLBO licensed with 41 indoor seats and a 35-seat licensed outdoor patio, making it ideal for year-round dining and seasonal patio service. Operating hours are Monday to Friday from 3:00 PM to 2:00 AM and Saturday & Sunday from 12:00 Noon to 2:00 AM. Low flat franchise royalty and advertising fees. Online ordering is available through Uber Eats, DoorDash, and Gabby's online ordering platform, providing multiple revenue streams. Excellent opportunity for an owner-operator, family business, investor, or experienced restaurateur looking to acquire a profitable Toronto restaurant with stable cash flow and significant growth potential. Plenty of opportunities to increase sales through expanded marketing, catering, special events, sports nights, entertainment, and extended food promotions. Turnkey operation, repeat clientele, trained staff, and strong comm Rare. (We are not willing to de-brand, and any buyer is subject to approval to ensure they're a good fit. We won't hold anything up, but we do need to be confident the new buyer aligns with the operation.)
Estimate your monthly payments for this property
Estimated Payment
$1,180.02/mo
Includes CMHC insurance ($6,417)
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 Mount Pleasant East
Mount Pleasant East 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 Mount Pleasant East
- •Convenient location in Leaside / Davisville
- •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
Mount Pleasant East 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.
383 Eglinton Avenue, Leaside / Davisville
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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 $235/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 93 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 Leaside transactions.