502 Queen Street W, Toronto, ON M5V 2B3
Kensington-Chinatown, Toronto · Near Queen/Portland · View map
About this home
Prime Queen Street West Restaurant Opportunity. Discover an exceptional turnkey restaurant opportunity in the heart of Toronto's highly sought-after Queen West neighborhood, ideally located between Spadina Avenue and Bathurst Street. The space is fully built out and professionally fitted as a turnkey restaurant, allowing an incoming operator to open with minimal additional investment. All owned equipment, fixtures, and essential restaurant infrastructure are included in the sale. The property has been exceptionally well maintained and features numerous upgrades over the years, including a full building sprinkler system and an upgraded gas line. Rear lane access offers convenient loading and servicing, enhancing day-to-day restaurant functionality. Current status: Leased through July 2027. The buyer must assume the tenant for the remaining lease term. Don't miss this chance to join one of Toronto's most vibrant and desirable commercial districts.
The home
- Type
- Commercial retail
- Square footage
- 3070 sq ft
- Lot size
- 15.2 x 122 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Security
- Yes
Heating & cooling
- Heating type
- Gas Forced Air Open
- Air conditioning
- Yes
Garage & parking
- Total parking
- None
Taxes & other
- Property taxes
- $48,000/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- Flex
- Cross street
- Queen/Portland
- Neighbourhood
- Kensington-Chinatown
More
- MLS® number
- C13704106
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No features listed yet.
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax and Toronto municipal land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
502 Queen Street, Toronto, ON M5V 2B3
Kensington-Chinatown, Toronto · Near Queen/Portland
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Listing history for 502 Queen Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 502 Queen Street W
Answers come straight from this home’s MLS® listing.
How much is 502 Queen Street W listed for, and what would it cost each month?
502 Queen Street W is listed for $4,500,000. With 20% down ($900,000), the mortgage payment would be roughly $18,152 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $22,152 a month, all in. That figure is an illustration, not a quote.
Is 502 Queen Street W freehold or a condo, and is there a monthly fee?
502 Queen Street W is a commercial retail in Kensington-Chinatown, Toronto. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
Does 502 Queen Street W have a garage and parking?
The listing does not show a garage. The listing does not include a parking space.
What style of home is 502 Queen Street W?
502 Queen Street W is a commercial retail. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 502 Queen Street W, and what is the lot size?
The lot is listed as 15.2 x 122 ft.
How is 502 Queen Street W heated and cooled?
Heating is gas forced air open. Cooling is yes.
What are the property taxes for 502 Queen Street W?
Property taxes are $48,000 a year (2025), or about $4,000 a month.
Where is 502 Queen Street W?
502 Queen Street W is in the Kensington-Chinatown community of Toronto. The nearest main intersection is Queen/Portland. The postal code is M5V 2B3.
Is 502 Queen Street W still for sale?
Yes. It is an active listing (MLS® C13704106). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 502 Queen Street W asking?
Similar properties for sale nearby right now include 2479 Queen Street E at $4,688,000, 499 Queen Street W at $4,300,000 and 701 Queen Street E at $4,300,000. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 502 Queen Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 502 Queen Street W?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
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Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.