OFFERING MEMORANDUM
230 NIAGARA STREET
EAST BLOCK BETWEEN KING STREET WEST AND QUEEN STREET WEST | TORONTO, ON
EXCLUSIVELY OFFERED BY
RKF GROUP CANADA REALTY, a Real Estate Brokerage
230 NIAGARA STREET
EAST BLOCK BETWEEN KING STREET WEST AND QUEEN STREET WEST TORONTO, ON
FOR MORE INFORMATION CONTACT EXCLUSIVE AGENTS STEVEN ALIKAKOS President, Canada, Broker of Record | 416.594.4222 |
[email protected] SIMON BOWER Sales Representative | 416.594.4227 |
[email protected] RKF Group Canada Realty, a Real Estate Brokerage 620 King Street West, Suite 200, Toronto, Ontario, Canada M5V 1M6 | T 416.599.3700 | F 416.599.3744 |
[email protected] | www.rkf.com © 2015 All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by RKF Group Canada Realty, a Real Estate Brokerage or principals, the terms of which are available to principals or duly licensed brokers. This information may include estimates and projections prepared by RKF Group Canada Realty, a Real Estate Brokerage with respect to future events, and these future events may or may not actually occur. Such estimates and projections reflect various assumptions concerning anticipated results. While RKF Group Canada Realty, a Real Estate Brokerage believes these assumptions are reasonable, there can be no assurance that any of these estimates and projections will prove to have been correct. Therefore, actual results may vary materially from these forward-thinking estimates and projections. Any square footage dimensions set forth are approximate.
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TABLE OF CONTENTS EXECUTIVE SUMMARY
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5
INVESTMENT SUMMARY
THE PROPERTY
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7 8 9
PROPERTY SUMMARY FLOOR PLAN SITE SURVEY
THE MARKET
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QUEEN STREET WEST OVERVIEW 11 QUEEN STREET WEST BIA 11 KING STREET WEST OVERVIEW 11 RETAIL LANDSCAPE 12 DEMOGRAPHICS 13
230 NIAGARA STREET | OFFERING MEMORANDUM
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EXECUTIVE SUMMARY
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INVESTMENT SUMMARY RKF Group Canada Realty has been retained as the exclusive agent to offer for sale 230 Niagara Street in Toronto, Ontario. The property is located in the Trinity Bellwoods neighborhood on the east block between King Street West and Queen Street West. 230 Niagara Street is a single storey building featuring 3,410 SF on the ground floor. The building features a studio space on the north side and a collection of small offices and meeting rooms on the south side. The property has 62 feet of frontage on Niagara Street with 16-foot ceilings in the studio area. 230 Niagara is surrounded by residential and mixed-use commercial buildings, and is steps away from the TTC.
Trinity Bellwoods Park, located two and a half blocks north of the property, is a 37-acre green space in the middle of the residential neighborhood. The city-owned park is beloved by residents, dog lovers and is a destination for Torontonians and visitors to the city. The park features festivals, farmers markets and a variety of outdoor events throughout the year. The Trinity Bellwoods submarket is bordered by Dundas Street West to the north, King Street West to the south, Bathurst Street to the east and Ossington Avenue to the west. The area boasts large residential, working and tourist populations, all of which bring spending power. Vogue Magazine coined this stretch of Queen Street West the “Second Coolest Street in the World”because of the variety of retailers found in this neighbourhood from fashion boutiques to restaurants and bars. The current sub market leasing rates average $50 – 55 net per square foot and are expected to increase in price. The property will continue to thrive as surrounding property values increase and the popularity of Queen Street West as a destination continues to climb. 230 Niagara Street offers a rare opportunity to acquire a standalone building with great signage/branding in one of Toronto’s most sought-after urban neighborhoods.
230 NIAGARA STREET | OFFERING MEMORANDUM
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THE PROPERTY
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PROPERTY SUMMARY ADDRESS
230 Niagara Street
LOCATION
East block between King Street West and Queen Street West
BLOCK/LOT
Portion of 94, 95, and 96; Plan 148
LOT SIZE
0.10 acre
FRONTAGE
62 feet
ZONING
R (Residential) with limited Commercial
SQUARE FOOTAGE
3,410 square feet
GROUND FLOOR RENTABLE SF
3,410 square feet
STORIES
One (1)
SALE PRICE
$2,700,000
230 NIAGARA STREET | OFFERING MEMORANDUM
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FLOOR PLAN
57'-0"
DOOR
GROUND FLOOR
OFFICE 6
STORAGE CLOSET
OFFICE 5
MEETING ROOM 1
59'-11"
STUDIO AREA
3,410 sf OFFICE 4
WC 2
WC 1
OFFICE 3
SHOWER AND STORAGE CLOSET
STORAGE ROOM RECEPTION AREA
OFFICE 2
OFFICE 1 ELECTRICAL ROOM
LOADING DOORS
DOOR
1
DOOR
230 Niagara St. Floor Plan62 FEET
APPROX 3410 SQ FT
Scale: 1/8" = 1'-0"
All dimensions must be confirmed by tennant prior to leasing and prior to renovation.
NIAGARA STREET
230 NIAGARA STREET | OFFERING MEMORANDUM
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SITE SURVEY
3,410 sf
230 NIAGARA STREET | OFFERING MEMORANDUM
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THE MARKET
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QUEEN STREET WEST OVERVIEW Toronto’s West Queen Street West district has been named the second hippest district in the world, according to Vogue Magazine. The area known as the Art and Design District is home to over 300 galleries, design houses, unique shops, restaurants and Toronto’s two ‘art’ hotels: The Drake and The Gladstone. Running along the two kilometer strip between Bathurst Street and Gladstone Avenue, West Queen Street West is self-proclaimed the “creative heart” of the city. It is one of the City’s most-visited shopping districts and it caters to the community with more than 50 restaurants serving unique gastronomy from around the world. Trinity Bellwoods Park, located in the center of the West Queen Street West district, and spanning 37 acres, is the hippest and most cultured of Toronto’s public spaces, playing host to many art shows and cultural events. West Queen Street West has undergone a rapid transformation in the past couple of years. Rents have increased dramatically, changing the landscape of the retail in the area. Previously known as a gallery-intense retail strip, the area is now a mix of fashion, furniture and gallery retailers. With the exit of galleries, came the entrance of many bars.
QUEEN STREET WEST BIA The businesses on the stretch of Queen Street West from Bathurst Street to Gladstone Avenue have organized the West Queen Street West Business Improvement Area (BIA). The BIA is mandated to undertake streetscape improvement projects, organize community events and promote the neighborhood’s unique commercial establishments. Its vision is to retain the unique character of the West Queen Street West business community in the midst of renewal and growth, while attracting visitors/tourists to an area known to boast high concentrations of art and culture. The BIA promotes the West Queen West neighborhood as a distinct destination for residents and tourists. Queen Street West is minutes from downtown via the Queen streetcar and is a short distance from Billy Bishop airport, the Greyhound bus station, the Via rail station and the GO train and bus station.
KING STREET WEST OVERVIEW King Street is a major east-west commercial thoroughfare in Toronto. In recent years the King Street West corridor has transformed from a textile, garment manufacturing hub to a bustling area with chic restaurants, clubs, galleries, and retail. King Street West is predominantly known for entertainment in downtown Toronto with major attractions nearby including the Rogers Centre, Air Canada Centre, and Ripley’s Aquarium. Parts of King Street West were once a gritty industrial zone, which have since been reborn into a chic, dynamic cousin of trendy Queen Street West. Historic buildings are still very prevalent in the area, many of which have been converted into unique residential, commercial and retail spaces. King Street West is minutes from downtown via the King streetcar and is a short distance from Billy Bishop airport, the Greyhound bus station, the Via rail station and the GO train and bus station.
230 NIAGARA STREET | OFFERING MEMORANDUM
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ST SHOPPING DISTRICT RETAIL LANDSCAPE
LEGEND
ROBINSON STREET
Yogurty’s Froyo Czehoski Cabaret Dark Romni Horse KolKid R2 Wools
QUEEN STREET WEST
Anne Hung
Coffee Smoque Osafo Time N’ Bones Helmutt’s The Done Appletree Pet Supply Right Inn Natural Foods
Louis Kallinokos & Sons Furs
Lightform
RETAIL BAR/CAFE/RESTAURANT HEALTH & BEAUTY HOTEL OTHER
Hero Certified Burger La Hacienda Neurotica Leigh & Records Harlow Neat
Pizzaiolo Niche Coffee & Tea
0.025
STRE
The Iceman
ADELAIDE STREET WEST
ET
UFO Restaurant
NIAGARA STREET JUNIOR PUBLIC SCHOOL
Smoke Poutine
CB2 Design REmix Duke’s Republic
GoodL
ST. MARY’S CATHOLIC SCHOOL
ST. MARY’S CATHOLIC CHURCH
BATHURST STREET
ARA
230 NIAGARA STREET
Starbucks Mr. Sub
Football Factory Corrado’s Barber Shop Cyclemotive
TECUMSEH STREET
NIAG
NUE
T AVE
NU WAL
STANLEY TERRACE
MITCHELL AVENUE
0
WOLSE
Central Toronto Community Health Centre
Rehearsal Factory
Susan Hobbs Georgia Scherman Projects Birch Contemporary
0.025
Miles 0.1
0.05
Ali Kenzo The Fit for Pizza BLVD Fuzz Chatelet Rus Baba’s Wax Loft Life Pizza Teak The Wildfox Canon Morba Bar Cure Tim Hortons Fashionably Elle Blanc Yours Hardware The Paddock Tavern
RICHMOND STREET WEST
Mula Yoga
0
Barn The Restaurant Beer Urban Home Tota Store Barn Craft Decor Lounge
Urban Mode
Pari Nadimi Gallery
Acme Works
MARKHAM STREET
Fresh Klaxon Collective Howl Pho Pa Scarpino Australian Dutil Boot Co.
Apalla Visual Squirly’s Rotate Quasi Milagro Heel Zane The Oak & The Eyes Ten This Modo Boy Fort Raq Thai Dufflet Gian Banu Optical Spot Destingo Elephant Paolo Shop Pastries Dlish The Harlem Bikes on Cupcakes Nomad Medulla & Co. Andrew Underground Wheels
Meg Subway
Zumel & Co.
Sanko Trading Co. Tealish Terroni Psyche Doc’s Izmi Leathers Sushi
PALMERSTON AVENUE
Cutler Girl and Floor Gross Friday Starbucks Play It’s all Simon Ben Socks Grk Carter Sherman
EUCLID AVENUE
MANNING AVENUE
Paper & Poste
7-11
CLAREMONT STREET
ype Feast Noce ooks The Spice Trader
BELLWOODS AVENUE
GORE VALE AVENUE
Chips
ST. NICHOLAS UKRANIAN CATHOLIC CHURCH
RETAIL BAR/CAFE/RESTAUR HEALTH & BEAUTY HOTEL
LEGEND
FACTORY THEATRE
App
BlackToe Running The Printing House Spaw Elixir Organic PS by Boutique Boutique Pretty & Spa Sweet Elephoto
Studio Lagree Cabal Delysees Studio Kim Davido Afnani Wagamama’s
KING STREET WEST Foggy Dew Irish Pub
Matisse Hair
Luce Pizza
Ritual
Shoppers Drugmart
Kingwest Dental Cindy Lim Acupuncture and Bathurst-King Oriental Medicine Cleaners King Scotiabank Bamboo Hero Certified Freshii White Dove UPS West Buddha Burgers McDonald’s Dry Cleaners Store Flowers Ichiban Wine Pita Second Pizza Tim Telus Subway Sushi Rack Choice Cup Hut Hortons Huy’s Convenience and Gifts
King Chef Spicy Chinese
International News
Rogers
Brioce Doree
Green Beane
Banknote EFS Beauty Forn Line Cult Bar
The Hoxton
STEWAR
THOMPSON HOTEL
WELLINGTON STREET WEST
Wabora Sushi Thompson Diner
Cole
20 King Street West, Suite 200, Toronto, Ontario, Canada M5V 1M6 | T 416.599.3700 | F 416.599.3744 |
[email protected] | www.rkf.com
230 NIAGARA STREET | OFFERING MEMORANDUM med reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions 12 for p or principals, the terms of which are available to principals or duly licensed brokers. This information may include estimates and projections prepared by RKF Group Canada Realty, a Real Estate Brokerage w NIAGARA ST r. Such estimates and projections reflect various assumptions concerning anticipated results. While RKF Group Canada Realty, a Real Estate Brokerage believes these assumptions are reasonable, there can b
DEMOGRAPHICS PK ORIOLE Y
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TOTAL POPULATION (2013) 1 kilometer 3 kilometer 5 kilometer
36,055 229,505 474,617
DAYTIME POPULATION (2013) 1 kilometer 40,477 3 kilometer 545,335 5 kilometer 828,424 TOTAL HOUSEHOLDS (2013) 1 kilometer 19,896 3 kilometer 122,051 5 kilometer 246,742 AVERAGE HOUSEHOLD INCOME (2013) 1 kilometer $99,163 3 kilometer $89,674 5 kilometer $97,550
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