391 Lumsden Avenue
391 Lumsden Avenue
$1,880,000
$307/sq ft · 5 days on market
About This Listing
Owned by the same owner since 1977, this is one of the very few long-established commercial freehold properties remaining in a high-density residential neighborhood surrounded by apartment buildings. The property is strategically located on the corner of Lumsden Avenue and Barrington Avenue. It features approximately 2,300 sq. ft. of above-grade commercial space plus a full basement, situated on a 6,114 sq. ft. lot. The property is currently leased to a stable tenant under a Net Lease expiring in March 2030, generating a rental income of $5,600/month Net Rent plus $1,500/month TMI, providing immediate and reliable cash flow for investors. An additional advantage is that the current owner also owns the adjacent property, creating a potential future assembly opportunity. For developers or long-term investors, this could represent an excellent redevelopment opportunity in the future, subject to applicable approvals.
| Monthly Mortgage (P&I) | $8,191 |
| Property Tax (MLS) | $1,423 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $9,614 |
Down payment: $376,000 (20.0%) · Mortgage: $1,504,000
Property tax uses MLS annual tax of $17,072/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
Listing provided by CITY PLUS REALTY INC.
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Data last updated: August 23, 2026 at 04:25 a.m.