$1,995,000 - 505 Parkside Drive, High Park
Commercial for Sale in High Park
Neighbourhood: High Park-Swansea
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- MLS Number
- W13773246
- Property Type
- Commercial
- Status
- active
- Days on Site
- 26
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,024 sqft
- Neighbourhood
- High Park / Junction / Roncesvalles
- Taxes (2026)
- $7,688
- Listing Brokerage
- ROYAL LEPAGE TERREQUITY BESPOKE REALTY
Discover an exceptional investment opportunity in one of Toronto's most desirable west-end locations. 505 Parkside Dr is a turnkey, upgraded property with 4 self-contained units, situated directly across from High Park and steps away from Keele TTC station. This property has been meticulously maintained by an experienced owner, ensuring operational efficiency and long-term stability. Recent upgrades include newer roofing, eavestroughs, downspouts and fascia, windows and blinds, vinyl flooring, 200 Amp electrical panel, tankless water heater, sump pumps (2), radiators, interior doors, and most appliances. Current rents are at market level and investors benefit from a **strong cap rate of 4.98%**, with minimal need for repositioning.Tenants benefit from efficient floorplans, outstanding convenience, and lifestyle appeal. The property is just a 3-minute walk to Keele Subway Station and only 15 minutes to the UP Express, ensuring seamless access to downtown and beyond. Steps from the lively Roncesvalles Village, residents have access to some of the city's best cafes, restaurants, and local shops, further enhancing tenant appeal and retention.A rare opportunity to acquire a turn-key asset in a premier west-end location with stable income, strong fundamentals, and enduring demand.
Estimate your monthly payments for this property
Estimated Payment
$8,824.56/mo
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 High Park-Swansea
High Park-Swansea 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 High Park-Swansea
- •Convenient location in High Park / Junction / Roncesvalles
- •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
High Park-Swansea 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.
505 Parkside Drive, High Park / Junction / Roncesvalles
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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 $986/sqft, this is priced in the upper range for GTA commercial — typical for prime locations or newer buildings. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
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 26-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 High Park transactions.