$5,500/mo - 968 College Street, Downtown Toronto
Commercial for Rent in Downtown Toronto
84 days on marketNeighbourhood: Dufferin Grove
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- MLS Number
- C13567862
- Property Type
- Commercial
- Status
- active
- Days on Site
- 84
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,826 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2025)
- $23,150
- Listing Brokerage
- RE/MAX ULTIMATE REALTY INC.
A great opportunity to lease a commercial space with excellent frontage on vibrant College Street West. Featuring exposed brick, large storefront windows, and abundant natural light throughout the day, the space offers an inviting atmosphere for a wide range of business uses. The flexible layout is well suited to professional offices, medical and wellness services, beauty, retail, educational, studio, and creative space, subject to landlord approval and applicable zoning. Currently configured with a welcoming reception area and five private offices, the space can be customized or reconfigured to suit your business needs. 1,800+ sqft with an additional 400+ sq ft basement provides valuable supplementary space for storage, operations, staff use, or workspace and includes two additional washrooms.Surrounded by a strong mix of established restaurants, cafes, retailers, and service businesses, this location benefits from steady pedestrian traffic, excellent visibility, prominent signage opportunities, and convenient transit access. Wide sidewalks, street patios, and an active local business community contribute to the area's strong appeal for both customers and employees. Landlord is open to discussing leasehold improvements and build out opportunities for qualified tenants. An excellent opportunity for businesses looking to establish or expand their presence in Toronto's west end.
Discover Dufferin Grove
Dufferin Grove 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 Dufferin Grove
- •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
Dufferin Grove 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.
968 College 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 $3/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 84 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.