5171 Yonge Street Toronto, Ontario M2N 5P5

$13,890,000

A rare opportunity to acquire a fully tenanted commercial office and retail building on a high-profile site along Yonge Street, in the heart of North York Centre. The property is identified under the revised North York Centre Secondary Plan as eligible for development of up to 65 storeys, making it one of the few remaining sites in the area suitable for significant high-density, mixed-use redevelopment. Located steps from North York Centre Subway Station, North York Civic Centre, and the Toronto Central Library, the site offers seamless integration into Toronto's public transit network. It is also within minutes of Highway 401, facilitating access for both regional and citywide commuters. The area functions as Toronto's largest employment node outside the downtown core, supporting both commercial and residential intensification. The property at 5169 & 5171 Yonge St. is situated within a section of Yonge Street already surrounded by high-rise residential buildings, Class-A office towers, and major retail developments, making it an ideal candidate for additional density in line with the City of Toronto's growth and intensification objectives. The existing structure is fully leased to a mix of long-standing commercial and professional tenants, providing reliable holding income during the planning and development process. The property includes 11 on-site parking spaces, with ample public and street parking available in the immediate vicinity. Most comparable sites in the area have already been developed, making this property one of the last large-scale parcels along this stretch of Yonge Street, offering a unique opportunity for long-term strategic development. (id:50886)

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https://www.realtor.ca/real-estate/28797797/5171-yonge-street-toronto-willowdale-east-willowdale-east