$175,000 - 979 King Street, Hamilton
Commercial for Sale in Hamilton
Neighbourhood: Gibson
- MLS Number
- X13459174
- Property Type
- Commercial
- Status
- active
- Days on Site
- 19
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,300 sqft
- Neighbourhood
- Hamilton
- Listing Brokerage
- RE/MAX SUCCESS REALTY
365 Variety Convenience Store is a well-established, community-focused convenience retailer located on King Street East, one of Hamilton's primary arterial corridors. The store has built a loyal local customer base and holds a strong 4.2-star Google rating, with customers consistently praising the friendly staff, clean environment, and well-stocked shelves. Profitable and well-established convenience store in a prime Hamilton location with excellent two-sided visibility and strong daily foot traffic. The business offers multiple revenue streams, including beer and wine, vape products, lottery, coffee, frozen foods, ice cream, quick meals, UPS, RIA, gift cards, SIM cards, ATM, and Bitcoin services. Significant growth potential exists through expanded product offerings, targeted marketing initiatives, and an enhanced online presence. The surrounding neighbourhood is a dense, established residential community ensuring consistent walk-in traffic. The King Street corridor connects Hamilton's downtown core to the east end, providing high visibility for impulse and convenience purchases throughout the day. Nearby Anchor Stores: Tim Hortons (888 Main St. E) - 24-hour location, approx. 0.7 km away McKnight's Pharmacy (685 Main St. E) - Highly rated independent pharmacy, approx. 0.6 km away McDonald's (1268 King St. E) - 24-hour location, approx. 1.5 km east along the same corridor Metro (1161 Barton St. E) - Major full-service grocery store, approx. 2 km east RBC Royal Bank (1145 Barton St. E) - approx. 1.7 km east The store benefits from a complementary anchor ecosystem with no direct large-format competition immediately adjacent, making it a strong turn-key opportunity with established goodwill. The landlord is willing to negotiate a new lease with the successful buyer. Hours of Operation: Mon-Thu 9:00 AM-9:00 PM | Fri-Sat 9:00 AM-9:30 PM | Sun 10:00 AM-8:00 PM
Estimate your monthly payments for this property
Estimated Payment
$897.84/mo
Includes CMHC insurance ($4,883)
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 Gibson
Gibson 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 Gibson
- •Convenient location in Hamilton
- •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
Gibson 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.
979 King Street, Hamilton
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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 $135/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.
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 19-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 Hamilton transactions.