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For SaleUrban Retail & Multi-Family Residential Offering
380, 386, 388 Wilson Avenue Toronto, ON
Elliot Medoff* Vice President+1 416 238 [email protected]
Euan Darling*Senior Associate+1 416 238 [email protected]
Michael Betsalel*Senior Vice President+1 647 728 [email protected]
*Sales Representative
An excellent opportunity to acquire three retail storefronts and six multi-level apartment
units on Wilson Avenue west of Bathurst Street. 380, 386, 388 Wilson Avenue (“the
Properties”) are strategically located at the west end of the Wilson-Bathurst commercial
strip in the evolving neighbourhood of Wilson Heights. The Properties benefit from their
close proximity to Allen Road, Highway 401, and the TTC’s Wilson Subway Station. The
Properties are offered for sale collectively or on an individual basis.
Property Details
388 Wilson Ave.
386 Wilson Ave.
380 Wilson Ave.
Total Land Area: 9,475 s.f.
Total Building Area: 8,040 s.f.
Total Frontage: 80 ft.
Parking: Six (6) surface stalls
Zoning: Commercial-Residential
Official Plan: Mixed Use Area
Net Operating Income (NOI): $124,000 per annum (approx.)
Land Area: 5,145 s.f.
Building Area: 2,680 s.f.
Frontage: 39 ft.
Depth: 133 ft.
Parking: Two (2) surface stalls
Net Operating Income (NOI): $43,000 per annum (approx.)
Location and Development ActivityThe Properties are strategically located on the north side of Wilson Avenue, just west of the Bathurst and Wilson Intersection. The site is easily accessible by both car and transit, having direct access to Wilson Subway Station in addition to offering close proximity to many of the GTA’s major highways.
This middle-class, family neighbourhood has seen high population growth over the past decade, reflected in the increase in mid-rise multi-family developments. Two nearby developments under construction are Malibu’s Southside Residences at Gramercy Park, a two-tower, mid-rise, 490 unit development on Tippet Road south of Wilson Station, and Brandy Lane Homes’ The Station, another two-tower, mid-rise, 390 unit development at 555 Wilson Avenue. Other nearby amenities include Downsview Airport and Park (one stop north) and Yorkdale Shopping Centre (one stop south).
Income & Tenancy380, 386 & 388 Wilson Avenue are fully leased with retail tenants at grade and six residential tenants on the 2nd and 3rd floors. The retail tenants include a local uniform clothing store at 380 Wilson Ave., a chiropractic service facility at 386 Wilson Ave., and the national tenant MoneyMart at 388 Wilson Avenue. Combined, the Properties generate a Net Operating Income (NOI) of approximately $124,000 per annum.
Salient Facts
Land Area: 2,166 s.f.
Building Area: 2,680 s.f.
Frontage: 20 ft.
Depth: 108 ft.
Parking: Two (2) surface stalls
Net Operating Income (NOI): $41,000 per annum (approx.)
Land Area: 2,673 s.f.
Building Area: 2,680 s.f.
Frontage: 20 ft.
Depth: 108 ft.
Parking: Two (2) surface stalls
Net Operating Income (NOI): $40,000 per annum (approx.)
Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their represen-tatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2017. Jones Lang LaSalle. All rights reserved. *Sales Representative **Broker.
Offering Process
JLL has been exclusively retained by the Vendor to seek proposals to acquire the Properties. The Properties are offered for sale at a collective price of $3,000,000 or at $1,000,000 individually, on an as-is, where-is basis, free and clear of debt. The Vendor’s objective is to maximize sale proceeds while preference will be given to offers with limited conditionality and timely closing. Offers should be submitted to the attention of Elliot Medoff or Euan Darling at 22 Adelaide Street West, Suite 2600, Toronto, ON, M5H 4E3.
For more information please contact:
Elliot Medoff* Vice President +1 416 238 9768 [email protected]
Michael Betsalel*Senior Vice President+1 647 728 [email protected]
*Sales Representative
Euan Darling*Senior Associate+1 416 238 [email protected]
