$109,000 - 621 Bloor Street, Downtown Toronto
Commercial for Sale in Downtown Toronto
358 days on marketNeighbourhood: Palmerston-Little Italy
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- MLS Number
- C12422765
- Property Type
- Commercial
- Status
- active
- Days on Site
- 358
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 750 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- HOMELIFE LANDMARK REALTY INC.
Established brand turnkey bubble tea shop for sale. Perfectly situated in high-traffic Koreatown at Christie and Bloor St W surrounded by schools, offices, and retail. With a loyal customer base and strong social media following. This business offers immediate revenue and growth potential. Key Features: Fully equipped with modern tea brewing systems, sealing machines, and POS setup. Stylish interior with seating, vibrant branding, and Instagram-worthy aesthetics. Diverse menu including milk teas, fruit teas, slushes, and seasonal specials. Efficient layout designed for high-volume service and delivery integration. Trained staff and streamlined operations for smooth transition. Profitable with consistent daily foot traffic and strong delivery app presence. Excellent reviews and repeat customers. Room to expand menu or add merchandise, snacks, or catering services. Ideal for first-time entrepreneurs or seasoned operators looking to grow. Included in Sale: All equipment and inventory. Lease transfer with landlord approval. Training and support during handover period. This is a rare chance to own a beloved established brand with everything in place. Whether you're passionate about bubble tea or seeking a smart investment, this shop is ready to go from day one. Full Basement for washrooms and storage double the amount of square footage. Current lease runs to Jan 15, 2029 with 5 yr option to renew to Jan 15, 2034. Rent info in attachment.
Estimate your monthly payments for this property
Estimated Payment
$559.23/mo
Includes CMHC insurance ($3,041)
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 Palmerston-Little Italy
Palmerston-Little Italy 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 Palmerston-Little Italy
- •Convenient location in Downtown Toronto / Waterfront
- •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
Palmerston-Little Italy 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.
621 Bloor Street, Downtown Toronto / Waterfront
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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 $145/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 358 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 Downtown Toronto transactions.