$1,700/mo - 7181 Yonge Street Unit 77, Markham
Commercial for Rent in Markham
New — Listed yesterdayNeighbourhood: Grandview
- MLS Number
- N13631486
- Property Type
- Commercial
- Status
- active
- Days on Site
- 1
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 373 sqft
- Neighbourhood
- Markham
- Listing Brokerage
- REMAX YOUR COMMUNITY REALTY
Prime Corner Retail Space, World on Yonge Multi-Use Complex. Position your business for exceptional visibility in this premium corner retail unit located on the main level of the renowned World on Yonge complex. Featuring a modern, beautifully designed interior with high-end ceiling panels and integrated pot lighting, this space offers a polished, turn-key environment for established retailers, professional services, or wellness entrepreneurs.Three separate access points across both corner sides maximize foot traffic flow and offer easy spatial division for multi-functional operations. Newly installed vanity and dedicated water hookups make this an ideal setup for hair salons, nail studios, aesthetics, medical spas, or wellness clinics.Turn-Key Aesthetics: High-end interior finishes create an inviting, high-upscale atmosphere from day one. Situated steps from the high-volume Yonge & Steeles intersection, directly integrated within a master-planned community featuring four residential towers, a boutique hotel, a major supermarket, a vibrant food court, financial institutions, and medical offices. Exceptional transit connectivity with immediate access to local public transit and the future Subway Extension station.Visitor Convenience, Abundant ground-level and underground parking options for seamless client and employee access.This versatile, high-exposure unit presents a rare opportunity to secure a premier footprint in one of North York's most dynamic commercial hubs.
Discover Grandview
Grandview 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 Grandview
- •Convenient location in Markham
- •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
Grandview 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.
7181 Yonge Street Unit 77, Markham
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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 $5/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.
Just Listed — Take Your Time
This property just hit the market. Commercial due diligence is thorough and takes time — environmental assessments, lease review, financial statement analysis, and zoning confirmation. Unlike residential, there's rarely a multiple-offer frenzy. Act with focus, not urgency.
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 Markham transactions.