$65,000 - 41 Lebovic Avenue Unit 118, Kennedy Park
Commercial for Sale in Kennedy Park
Popular ListingNeighbourhood: Clairlea-Birchmount
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- MLS Number
- E13836426
- Property Type
- Commercial
- Status
- active
- Days on Site
- 9
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- N/A sqft
- Neighbourhood
- Dorset Park / Kennedy Park
- Taxes (2025)
- $6,059
- Listing Brokerage
- ENGEL & VOLKERS TORONTO CITY
Looking for a turnkey food business in a high-traffic Scarborough location? This is a rare opportunity to take over an established, profitable food business or bring your own culinary concept and make the space your own! Located in the food court at One Centre Plaza, this approx. 882 sq. ft. premises offers an existing restaurant setup, included chattels and the opportunity to assume the current lease, allowing a new operator to get up and running without starting from scratch. Ideally positioned near Warden Ave & Eglinton Ave E in a busy commercial hub with ample parking, strong exposure and a growing mix of restaurants, retailers, professional offices and services. The plaza and surrounding area draw consistent traffic, with nearby tenants and businesses including Walmart, Canadian Tire, RONA, Cineplex, Michael's, major banks and more. Steps from the Eglinton Crosstown LRT and surrounded by significant existing and planned residential growth, the location offers excellent long-term potential. Convenient access to the DVP and Highway 401 makes this an attractive opportunity for an owner-operator looking to continue the existing business or an entrepreneur ready to introduce a fresh concept in an established food destination. Financial statements, lease agreement, and inventory list available.
Estimate your monthly payments for this property
Estimated Payment
$333.48/mo
Includes CMHC insurance ($1,814)
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 Clairlea-Birchmount
Clairlea-Birchmount 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 Clairlea-Birchmount
- •Convenient location in Dorset Park / Kennedy Park
- •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
Clairlea-Birchmount 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.
41 Lebovic Avenue Unit 118, Dorset Park / Kennedy Park
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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 Kennedy Park 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.
Commercial Market Pace
Commercial real estate transactions typically take 60–120 days from offer to close — longer than residential — due to financing conditions, environmental reports, and tenant estoppel reviews. This 9-day listing is within normal commercial market exposure.
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 Kennedy Park transactions.