$1,400,000 - 708 The Queensway N/A, Corso Italia
Commercial for Sale in Corso Italia
Popular ListingNeighbourhood: Stonegate-Queensway
Want to see this home in person?
Book a private showing with Joe — pick a day and time that works for you.
- MLS Number
- W13839156
- Property Type
- Commercial
- Status
- active
- Days on Site
- 8
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 3,011 sqft
- Neighbourhood
- Corso Italia / Dufferin Grove
- Taxes (2026)
- $13,815
- Listing Brokerage
- RE/MAX WEST REALTY INC.
Welcome to 708 The Queensway, situated in the highly desirable and rapidly expanding Stonegate-Queensway neighbourhood. This exceptional two-storey brick commercial-residential property encompasses 3,011 square feet of above-grade space and presents a compelling opportunity to live, work, and invest. The property features two street-front commercial units, each ideally suited for a diverse range of business operations. The basement level beneath the commercial units remains unfinished, offering significant development potential for future expansion or additional revenue streams.The self-contained residential apartment is independently metered and comprises three bedrooms, a full kitchen, and a bathroom. A detached single-car garage provides secure vehicle storage. Notably, this is a rare 25-foot-wide building, maximizing floor space and versatility.The property's location offers exceptional convenience and strategic positioning. Proximity to the QEW and the recently revitalized Kipling Transit Hub provides seamless connectivity to the TTC, GO Transit, and MiWay Mississauga Transit, ensuring superior regional mobility. The area is experiencing significant revitalization, with multiple new condominium developments planned within a 2-kilometre radius, enhancing long-term property value and neighbourhood amenities. Excellent shopping, dining, business services, and proximity to Pearson International Airport further strengthen this investment opportunity. Residential unit IS Vacant, Main floor retail Currently leased on a month-to-month basis with potential for vacancy. This property represents a rare opportunity to acquire a distinctive mixed-use asset in a transforming, high-demand neighbourhood.
Estimate your monthly payments for this property
Estimated Payment
$6,192.67/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 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.
708 The Queensway N/A, Corso Italia / Dufferin Grove
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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 $465/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 8-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 Corso Italia transactions.