This 'Landmark' Commercial Opportunity Just Hit the Midtown Market

For those with a soft spot for both landmark buildings and midtown's vibe, an ideal opportunity has hit Toronto's commercial real estate market.

The Falcon Building, instantly recognizable at 522 Mount Pleasant Road, serves as an "end-user or value-add acquisition opportunity," right in the centre of the historic and charming Mount Pleasant Village.

Local shops, small-owned services, and mouth-watering eateries surround the address, promising a swoon-worthy reputation by proxy for even those most fresh to their business ventures.

And, being set in a transit-friendly location (read: a mere 750 metres from the future Mount Pleasant Crosstown LRT Station), access to the address is a breeze, whether that be for staff or meeting guests.

This is without mentioning the 9 on-site private parking spots, as well.

Complete with a three-storey office building on site, which offers 8,242 sq. ft. of rentable area, the opportunities that arise with a property such as this are all but endless.

The site's zoning permits a variety of commercial uses; floors one and two can be vacant upon the new owner's possession.

Specs:

Address: 522 Mount Pleasant Road
Size: 5,769.45 (50 ft. frontage x 115 ft. depth)
- Lower level: 2,399 sq. ft.
- First floor: 2,905 sq. ft.
- Second floor: 2,938 sq. ft.
Price: $6,250,000
Property tax: $67,949.94
Listed by: Amir Nourbakhsh, Jesse Roth, Ming Zee, Metropolitan Commercial

In the address' surrounding area, the 2021 average household income was well above both the municipal and national averages, coming in at $179,141. Being both densely populated (and growing, with more than 21,000 new residential units being constructed nearby) and inarguably affluent, the building's location promises an upscale experience for its owner and tenants alike.

With its brick-exterior charm and an interior that's overflowing with potential, the property -- asking $6,250,000 -- could make dreams come true. Yours... and others', too.

EXTERIOR

INTERIOR

Images:Leading Image

Cover Image:metcomrealty.com

This article was produced in partnership with STOREYS Custom Studio.

Listed Commercial

This 'Landmark' Commercial Opportunity Just Hit the Midtown Market

For those with a soft spot for both landmark buildings and Mount Pleasant, an opportunity has hit Toronto's commercial real estate market.

Specs:

EXTERIOR

INTERIOR

Trending

You may also like

This was a very challenging year for many, but some deals were still able to come together in part due to distressed sales.

What can we expect come 2025? Is the growth we've seen sustainable? What will sell? Who will buy? Prices? Ahead of the new year, STOREYS spoke to experts and insiders to get an idea of how 2025 could play out.

​Tridel was selected to complete The One after the sales process resulted in no bids to buy the project.

The penthouse sits atop 21 Dallas Road, right next to Fisherman's Wharf in Victoria.

The proposal envisions a 43-storey addition atop an existing nine-storey building, delivering 852 residential units with retail at grade and an "oasis"-like terrace.

​The redevelopment of Tsawwassen Town Centre Mall being proposed by Century Group would consist of four towers up to 24 storeys.

Plans have been submitted for the 43-storey residential building that will complete the four-tower Parkside Square lands master-planned community in North York.

The new plan aims to make housing more affordable by axing the Land Transfer Tax for first-time homebuyers, scrapping development charges on new homes under 3,000 sq. ft, and improving the renting industry.

​The 87-unit rental building at 4026 Quadra Street in Victoria was previously owned by Asfar Holdings Ltd. when it was placed under receivership in March.

Wednesday’s decision — the last of the year — brings the policy rate down to 3.25%.

Ontario's Landlord and Tenant Board has tripled its adjudicators and cemented a digital-first approach, but it continues to face a massive backlog, igniting calls for change.

Though rents remain well above historic levels, they are on the decline, with November posting a 1.6% drop in prices compared to last year.

The updated plans include an additional 24 storeys and 527 rental apartments, all within walking distance of the Eglinton Subway and planned Eglinton Crosstown LRT stop.

The key policies introduced this year — ranging from new zoning laws to federal housing initiatives — show promise in addressing Toronto's housing crisis and improving its transit options.

​The Madeira Manor site at 4330 Maywood Street (6677 Silver Avenue) in Burnaby was acquired by Thind Properties from Kirpal Group.

For the last interest rate announcement of 2024 — slated for Wednesday, December 11 — the question is (once again) not will the Bank of Canada lower the rate, but by how much.

2024 © STOREYS Publishing Inc. | All Rights Reserved

Tridel was selected to complete The One after the sales process resulted in no bids to buy the project.

The redevelopment of Tsawwassen Town Centre Mall being proposed by Century Group would consist of four towers up to 24 storeys.

The 87-unit rental building at 4026 Quadra Street in Victoria was previously owned by Asfar Holdings Ltd. when it was placed under receivership in March.

The Madeira Manor site at 4330 Maywood Street (6677 Silver Avenue) in Burnaby was acquired by Thind Properties from Kirpal Group.