$2,389,000
$885/sq ft · 31 days on market
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Turn-key investment opportunity on Danforth Avenue, just one block west of Pape Avenue in the heart of Toronto's vibrant Danforth community. This fully renovated and extended three-level commercial building (with an approximately 37 ft addition completed in 2011) offers a stable, income-generating opportunity with excellent long-term tenants. The main floor features a franchise restaurant with a strong lease in place with 2 extensions, where the tenant pays for property taxes, insurance, utilities, and maintenance, with the owner covering a modest balance of approximately $1,000 per month. The upper level is occupied by reputable professional businesses, contributing to a polished, business-friendly atmosphere. The property has been upgraded throughout, including a 400 AMP / 3-phase hydro service with complete rewiring of the entire building, There are two separate heated basements each with its own washroom, individual electrical panels for each unit, a new plumbing system installed for the entire building with new APEX water lines, new fixtures & New Drains., new floor joists & subfloors on the entire second floor, with installed & insulated with fire proof & sound proof insulation. Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear. A truly turn-key property requiring no repairs, ideally suited for investors seeking a prime commercial asset in a high-traffic, high-visibility Danforth location.
588 Danforth Avenue
Closest publicly funded schools within 5 km, ranked by EQAO standardized test scores
Top 50% of Ontario elementary schools
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Top 25% of Ontario elementary schools
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EQAO score is the average of available reading, writing & math results, 0–100 · Source: Ontario Ministry of Education
Nearest rapid transit and bus stops
210 within a 10-min walk · 472 within 20 min · click a card to see the closest ones
Listing provided by RE/MAX REALTRON REALTY INC.
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Data last updated: May 2, 2026 at 09:42 a.m.
R = Reading · W = Writing · M = Math · arrows show 3-year change
Arrows show 3-year change
Source: TTC GTFS · straight-line distances · routes shown are short names
© OpenStreetMap contributors · counts are amenities tagged in OSM within walking distance