$5,300/mo - 71 Oxford Street, Downtown Toronto
Commercial for Rent in Downtown Toronto
119 days on marketNeighbourhood: Kensington-Chinatown
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- MLS Number
- C13428558
- Property Type
- Commercial
- Status
- active
- Days on Site
- 119
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 638 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2025)
- $1,400
- Listing Brokerage
- RE/MAX ULTIMATE REALTY INC.
Looking for a space that practically markets itself? Welcome to an iconic Kensington Market storefront-an ultra-hip address in the heart of Toronto's most creative neighbourhood. This building is known for its legendary mural, featured in publications including National Geographic-meaning your business gets immediate built-in street credibility from the moment people spot you. What makes this location a standout: Approx 500 square feet of City boulevard space, perfect for a high-exposure patio Constant foot traffic: nonstop movement day and night from locals, artists, shoppers, tourists, and festival traffic Two very funky designer doors that create instant curb appeal and a "let's go in" vibe An abstract stair that makes the entry feel like part of the experience-perfect for brands that want to be remembered Gas-burning fireplace to create a cozy atmosphere that will keep visitors returning, again and again Prime for loyal clientele: Kensington visitors don't just pass through-they come back, they browse, and they return Perfect for: Boutiques, cafés, lifestyle brands, studios, concept shops, galleries, pop-ups, or any business that thrives on personality and presence. Be part of Kensington Market's energy If your brand deserves a location with culture, visibility, and character-this is it. Currently, the space is a 712 foot vanilla shell, waiting to be transformed.
Discover Kensington-Chinatown
Kensington-Chinatown 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 Kensington-Chinatown
- •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
Kensington-Chinatown 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.
71 Oxford 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 $8/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 119 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.