rare corner location within one of toronto's hottest ... - Colliers Canada
VIEW ONLINE
collierscanada.com/22757
Asking Price:
$5.7M FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
RARE CORNER LOCATION WITHIN ONE OF TORONTO’S HOTTEST COMMERCIAL AND RESIDENTIAL NODES 1781-1783 Avenue Road is a 2 storey building with retail on the ground floor and residential on the second floor. The second floor residential includes 1 two bedroom unit, 2 1-bedroom units and a bachelor unit. There is also a usable basement that is currently utilized by the existing retail business. The property is situated on a prime corner with the additional benefit of a rear lane and boulevard parking. This corner of Melrose and Avenue Road is also a signaled intersection and pedestrian crossing. The 38 feet of frontage along Avenue Road is above average for multiple lot blocks along Upper Avenue Road. Directly to the north is No Frills (Loblaws) with a large surface parking lot. This large site will be redeveloped at some point in the future which will add value to 1781-1783 Avenue Road. In particular the frontage along Melrose Avenue will benefit from intensification of the northeast corner. GEORGE SIOTAS*
DAVID WILLIAMS*
Associate Vice President +1416 791 7204 [email protected]
Senior Vice President Vice President +1 416 643 3753 +1 416 791 7241 [email protected] [email protected]
DAVID HOFFMAN*
Colliers International
245 Yorkland Boulevard, Suite 200 Toronto, ON |M2J 2W9 P: +1 416 777 2200 F: +1 416 492 0100
ROB WALKOWIAK Sales Representative +1 416 791 7245 [email protected]
Accelerating success.
FOR SALE | 1781 AVENUE ROAD | TORONTO| ON
INVESTMENT HIGHLIGHTS THE AREA • Rare corner location on Avenue Road within one of Toronto’s hottest commercial and residential • Street parking and other nearby parking lots • Signaled intersection and pedestrian crosswalk • Upper Avenue Road in the midst of a renaissance of new development • Unique corner property that could be part of a larger assembly THE BUILDING • Licensed boulevard parking area of 750 SF that could also be converted to outdoor patio space • Redevelopment potential to 5 storeys
OL
E ROV
RD G
CHA D OR
UE
EN E AV
RAIN DELO
UE ELM
VEN SE A
RO MEL
D ROA
OAD UE R AVEN
Property Location
AIN
AD Y RO GRE
ERM ST. G
UE
AVEN
UE
L FAIR
AVEN AWN
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
REDEVELOPMENT POTENTIAL 1781-1783 Avenue Road is located on Avenue Road in the node known as “Upper Avenue Road” defined by Lawrence Avenue to the south and Wilson Avenue to the north. This area was subject to a City of Toronto Study that was adopted by the City of Toronto in December of 2009 and approved by the OMB in May 2010. The implementation of the study included an amendment to the North York Zoning By-law to create a new zoning regime suited to this Avenue segment, an amendment to the Official Plan and former City of Toronto Zoning By-law to recognize an existing ravine park and urban design guidelines to guide development on this portion of Avenue Road. The result is that for most properties with an 89 to 121 foot lot depth would yield a 5-storey building with the upper storeys set back, and a mechanical penthouse. The mechanical penthouse or other rooftop structures should not be more than 7.4 feet in height or penetrate the visual angular planes. The maximum height proposed for the five storey buildings is 54 feet, exclusive of the mechanical penthouse, to allow for a 14.76 foot high first floor for retail uses. Below is an example of the property’s development potential:
L AW
R
EN E AV ENC
UE
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
AVENUE ROAD
MELROSE AVENUE
TAKE A VIRTUAL TOUR
collierscanada.com/22757
AVAILABLE SPACE & COSTS Asking Price
$5,700,000
Apartment Unit
1 - Bachelor 2 - 1 Bedroom 1 - 2 Bedroom
Taxes
$41,435.53 (2017)
Year Built
1953
Site Area
3,572 SF
Zoning
C1
Lot Size
38 x 94 Feet
Legal Description
Plan 1706 N PT LOT 115 N PT, Lot 116
Building Area
Ground Floor - 3,036 SF 2nd Floor - 2,272 SF Total- 5,308 SF * Plus usable basement area
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
FLOOR PLANS GROUND FLOOR MELROSE AVENUE 94 FEET OF FRONTAGE
AVENUE ROAD
38 FEET OF FRONTAGE
750 SF LICENSED BOULEVARD
AT GRADE ON THE CORNER OF AVENUE ROAD AND MELROSE AVENUE 2 STEP GRADE CHANGE DOWN WITHIN THE STORE BUT REMAINS AT GRADE ALONG AVENUE ROAD 2 STEP GRADE CHANGE UP WITHIN THE STORE BUT REMAINS AT GRADE ALONG MELROSE AVENUE
SECOND FLOOR MELROSE AVENUE
LIVING ROOM
KITCHEN
BEDROOM
BATHROOM
BEDROOM
LIVING ROOM
AVENUE ROAD
KITCHEN BATHROOM BATHROOM
LIVING ROOM
KITCHEN
BEDROOM
BACHELOR BEDROOM
BACHELOR 1 BEDROOM 2 BEDROOM
* NOT TO SCALE
Gallery
VIEW MORE PHOTOS
collierscanada.com/22757
Contact us: GEORGE SIOTAS*
DAVID WILLIAMS*
Associate Vice President +1416 791 7204 [email protected]
Senior Vice President Vice President +1 416 643 3753 +1 416 791 7241 [email protected] [email protected]
DAVID HOFFMAN*
ROB WALKOWIAK Sales Representative +1 416 791 7245 [email protected]
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2017. All rights reserved. Colliers Macaulay Nicolls Inc., Brokerage. *Sales Representative **Broker
VIEW ONLINE
collierscanada.com/22757
Accelerating success.
collierscanada.com/22757
Asking Price:
$5.7M FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
RARE CORNER LOCATION WITHIN ONE OF TORONTO’S HOTTEST COMMERCIAL AND RESIDENTIAL NODES 1781-1783 Avenue Road is a 2 storey building with retail on the ground floor and residential on the second floor. The second floor residential includes 1 two bedroom unit, 2 1-bedroom units and a bachelor unit. There is also a usable basement that is currently utilized by the existing retail business. The property is situated on a prime corner with the additional benefit of a rear lane and boulevard parking. This corner of Melrose and Avenue Road is also a signaled intersection and pedestrian crossing. The 38 feet of frontage along Avenue Road is above average for multiple lot blocks along Upper Avenue Road. Directly to the north is No Frills (Loblaws) with a large surface parking lot. This large site will be redeveloped at some point in the future which will add value to 1781-1783 Avenue Road. In particular the frontage along Melrose Avenue will benefit from intensification of the northeast corner. GEORGE SIOTAS*
DAVID WILLIAMS*
Associate Vice President +1416 791 7204 [email protected]
Senior Vice President Vice President +1 416 643 3753 +1 416 791 7241 [email protected] [email protected]
DAVID HOFFMAN*
Colliers International
245 Yorkland Boulevard, Suite 200 Toronto, ON |M2J 2W9 P: +1 416 777 2200 F: +1 416 492 0100
ROB WALKOWIAK Sales Representative +1 416 791 7245 [email protected]
Accelerating success.
FOR SALE | 1781 AVENUE ROAD | TORONTO| ON
INVESTMENT HIGHLIGHTS THE AREA • Rare corner location on Avenue Road within one of Toronto’s hottest commercial and residential • Street parking and other nearby parking lots • Signaled intersection and pedestrian crosswalk • Upper Avenue Road in the midst of a renaissance of new development • Unique corner property that could be part of a larger assembly THE BUILDING • Licensed boulevard parking area of 750 SF that could also be converted to outdoor patio space • Redevelopment potential to 5 storeys
OL
E ROV
RD G
CHA D OR
UE
EN E AV
RAIN DELO
UE ELM
VEN SE A
RO MEL
D ROA
OAD UE R AVEN
Property Location
AIN
AD Y RO GRE
ERM ST. G
UE
AVEN
UE
L FAIR
AVEN AWN
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
REDEVELOPMENT POTENTIAL 1781-1783 Avenue Road is located on Avenue Road in the node known as “Upper Avenue Road” defined by Lawrence Avenue to the south and Wilson Avenue to the north. This area was subject to a City of Toronto Study that was adopted by the City of Toronto in December of 2009 and approved by the OMB in May 2010. The implementation of the study included an amendment to the North York Zoning By-law to create a new zoning regime suited to this Avenue segment, an amendment to the Official Plan and former City of Toronto Zoning By-law to recognize an existing ravine park and urban design guidelines to guide development on this portion of Avenue Road. The result is that for most properties with an 89 to 121 foot lot depth would yield a 5-storey building with the upper storeys set back, and a mechanical penthouse. The mechanical penthouse or other rooftop structures should not be more than 7.4 feet in height or penetrate the visual angular planes. The maximum height proposed for the five storey buildings is 54 feet, exclusive of the mechanical penthouse, to allow for a 14.76 foot high first floor for retail uses. Below is an example of the property’s development potential:
L AW
R
EN E AV ENC
UE
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
AVENUE ROAD
MELROSE AVENUE
TAKE A VIRTUAL TOUR
collierscanada.com/22757
AVAILABLE SPACE & COSTS Asking Price
$5,700,000
Apartment Unit
1 - Bachelor 2 - 1 Bedroom 1 - 2 Bedroom
Taxes
$41,435.53 (2017)
Year Built
1953
Site Area
3,572 SF
Zoning
C1
Lot Size
38 x 94 Feet
Legal Description
Plan 1706 N PT LOT 115 N PT, Lot 116
Building Area
Ground Floor - 3,036 SF 2nd Floor - 2,272 SF Total- 5,308 SF * Plus usable basement area
FOR SALE | 1781 AVENUE ROAD | TORONTO | ON
FLOOR PLANS GROUND FLOOR MELROSE AVENUE 94 FEET OF FRONTAGE
AVENUE ROAD
38 FEET OF FRONTAGE
750 SF LICENSED BOULEVARD
AT GRADE ON THE CORNER OF AVENUE ROAD AND MELROSE AVENUE 2 STEP GRADE CHANGE DOWN WITHIN THE STORE BUT REMAINS AT GRADE ALONG AVENUE ROAD 2 STEP GRADE CHANGE UP WITHIN THE STORE BUT REMAINS AT GRADE ALONG MELROSE AVENUE
SECOND FLOOR MELROSE AVENUE
LIVING ROOM
KITCHEN
BEDROOM
BATHROOM
BEDROOM
LIVING ROOM
AVENUE ROAD
KITCHEN BATHROOM BATHROOM
LIVING ROOM
KITCHEN
BEDROOM
BACHELOR BEDROOM
BACHELOR 1 BEDROOM 2 BEDROOM
* NOT TO SCALE
Gallery
VIEW MORE PHOTOS
collierscanada.com/22757
Contact us: GEORGE SIOTAS*
DAVID WILLIAMS*
Associate Vice President +1416 791 7204 [email protected]
Senior Vice President Vice President +1 416 643 3753 +1 416 791 7241 [email protected] [email protected]
DAVID HOFFMAN*
ROB WALKOWIAK Sales Representative +1 416 791 7245 [email protected]
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2017. All rights reserved. Colliers Macaulay Nicolls Inc., Brokerage. *Sales Representative **Broker
VIEW ONLINE
collierscanada.com/22757
Accelerating success.
