$10,100/mo - 523 The Queensway Way Unit 107, Corso Italia
Commercial for Rent in Corso Italia
84 days on marketNeighbourhood: Stonegate-Queensway
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- MLS Number
- W13569300
- Property Type
- Commercial
- Status
- active
- Days on Site
- 84
- Bedrooms
- 0
- Bathrooms
- 1
- Square Feet
- 2,300 sqft
- Neighbourhood
- Corso Italia / Dufferin Grove
- Listing Brokerage
- RE/MAX PROFESSIONALS INC.
Flexible occupancy opportunity - available immediately as a sublease or potential direct lease with landlord approval. Newly renovated and fully equipped, turnkey medical office with plenty of customer parking - ideal for a physician looking to launch a new practice, second location or relocate into a ready-to-operate clinical space. This approximately 2,200 sq. ft. unit is a professionally designed medical clinic featuring a highly functional layout with extensive leasehold improvements valued at approximately $100,000. The space is move-in ready and well-suited for a wide range of medical, cosmetic, wellness, dermatology, laser, skincare, allied health, or other professional healthcare-related uses (subject to landlord approval). The suite includes 10 examination/treatment rooms with sinks, a beautiful and welcoming reception area, a private office or conference room, a small kitchen/ staff room, laundry, client bathroom, and supporting clinical infrastructure throughout. The layout is efficient, modern, and designed for optimal patient flow and staff functionality.Additional features include two entrances, wheelchair accessibility, and ample parking located at the rear of the building for patients and staff convenience.The building offers strong medical synergy with X-ray, ultrasound, and pharmacy services all located on-site, creating a highly convenient one-stop healthcare environment for patients. Outstanding location with excellent exposure and accessibility-just minutes to the Gardiner Expressway, QEW, public transit, banks, and major arterial routes.Current lease term runs until August 31, 2029. Subletting is permitted with landlord consent. The space may be made available as a full-unit sublease or partial occupancy arrangement depending on tenant requirements. A rare opportunity to step into a fully operational, high-quality medical space in a prime Etobicoke location, no renovation or work required. Price includes TMI.
Discover Stonegate-Queensway
Stonegate-Queensway 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 Stonegate-Queensway
- •Convenient location in Corso Italia / Dufferin Grove
- •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
Stonegate-Queensway 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.
523 The Queensway Way Unit 107, Corso Italia / Dufferin Grove
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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 $4/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 84 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 Corso Italia transactions.