$2,900/mo - 55 John Street, Hamilton
Commercial for Rent in Hamilton
Neighbourhood: Corktown
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- MLS Number
- X13768252
- Property Type
- Commercial
- Status
- active
- Days on Site
- 27
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,700 sqft
- Neighbourhood
- Hamilton
- Listing Brokerage
- Corcoran Horizon Realty
Newly renovated! Newly updated with HVAC and washroom rough-ins, this exceptional 1,700 sq ft unit commands prime real estate on bustling John Street South, positioned in the vibrant heart of Hamilton's revitalized downtown core. The versatile two-section layout (front and back) enables diverse dual-operation concepts such as a restaurant paired with a full-service bar or retail storefront with complementary back-of-house operations. The property features a full-height, dry basement providing generous storage and operational flexibility. Ideally situated steps from major transit hubs, including the future LRT corridor and the existing downtown Hamilton GO Centre, this location offers exceptional accessibility for customers and employees alike. The immediate surroundings showcase Hamilton's thriving downtown renaissance, with walkable access to eclectic dining, entertainment, cultural attractions, and retail destinations. The D1 Downtown Central Business District zoning supports diverse commercial uses, attracting a steady stream of foot traffic and commuter activity. The space benefits from high-visibility positioning on a major downtown thoroughfare, making it ideal for businesses seeking maximum market exposure. Whether positioned as a full-service restaurant with bar service, a specialty retail operation with support services, or any hybrid concept, this location provides the infrastructure and market positioning for success. Lease to be structured as semi-gross with tenant responsible for separately-metered utilities.
Discover Corktown
Corktown 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 Corktown
- •Convenient location in Hamilton
- •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
Corktown 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.
55 John Street, Hamilton
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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 $2/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.
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 27-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 Hamilton transactions.