$20/mo - 49 Norfolk Street Unit B, Guelph
Commercial for Rent in Guelph
32 days on marketNeighbourhood: Downtown
- MLS Number
- X13248312
- Property Type
- Commercial
- Status
- active
- Days on Site
- 32
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Guelph
- Listing Brokerage
- Keller Williams Home Group Realty
Become Part of Guelph History at The Albion! This is more than just a commercial space, it's an opportunity to become part of one of Guelph's most recognizable landmarks and carry forward the legacy of The Albion. For generations, The Albion has been woven into the fabric of downtown Guelph, serving as a gathering place, a destination, and a piece of the city's rich heritage.Located in the heart of the downtown core, this unique space offers exceptional character, exposure, and the rare chance to operate within a building that locals know and remember. Surrounded by thriving businesses, restaurants, entertainment, and year-round pedestrian traffic, the location provides the perfect blend of history and opportunity.Whether you're envisioning a boutique retail concept, professional office, creative studio, hospitality venture, or another exciting use, this space provides a remarkable canvas to establish your presence while honouring the building's storied past. Original architectural elements and historic charm create an atmosphere that simply cannot be replicated in modern construction.Adding to the opportunity, the other two levels of the building are also available, creating a rare possibility for an owner-occupier, investor, or business looking to expand across multiple floors within one of downtown Guelph's most iconic properties.Opportunities like this are exceptionally rare. Take your place in the next chapter of The Albion's history and help shape its future for generations to come.
Discover Downtown
Downtown 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 Downtown
- •Convenient location in Guelph
- •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
Downtown 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.
49 Norfolk Street Unit B, Guelph
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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 Guelph 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 32-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 Guelph transactions.