588 Danforth Avenue, Toronto, ON M4K 1R1
Playter Estates-Danforth, Toronto · Near West Of Pape Ave · View map
About this home
Turn-key investment opportunity on Danforth Avenue, just one block west of Pape Avenue in the heart of Toronto's vibrant Danforth community. This fully renovated and extended three-level commercial building (with an approximately 37 ft addition completed in 2011) offers a stable, income-generating opportunity with excellent long-term tenants. The main floor features a franchise restaurant with a strong lease in place with 2 extensions, where the tenant pays for property taxes, insurance, utilities, and maintenance, with the owner covering a modest balance of approximately $1,000 per month. The upper level is occupied by reputable professional businesses, contributing to a polished, business-friendly atmosphere. The property has been upgraded throughout, including a 400 AMP / 3-phase hydro service with complete rewiring of the entire building, There are two separate heated basements each with its own washroom, individual electrical panels for each unit, a new plumbing system installed for the entire building with new APEX water lines, new fixtures & New Drains., new floor joists & subfloors on the entire second floor, with installed & insulated with fire proof & sound proof insulation. Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear. A truly turn-key property requiring no repairs, ideally suited for investors seeking a prime commercial asset in a high-traffic, high-visibility Danforth location.
The home
- Type
- Store w apt / office
- Square footage
- 2700 sq ft
- Bathrooms
- 5
- Lot size
- 16 x 120 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Security
- Yes
Heating & cooling
- Heating type
- Gas Forced Air Open
- Air conditioning
- Yes
Garage & parking
- Garage
- Outside/Surface
- Driveway spaces
- 2
- Total parking
- 2
Taxes & other
- Property taxes
- $34,858/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- TO BE ARRANGED
- Cross street
- West Of Pape Ave
- Neighbourhood
- Playter Estates-Danforth
More
- MLS® number
- E13766972
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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.
588 Danforth Avenue, Toronto, ON M4K 1R1
Playter Estates-Danforth, Toronto · Near West Of Pape Ave
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Listing history for 588 Danforth Avenue
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 588 Danforth Avenue
Answers come straight from this home’s MLS® listing.
How much is 588 Danforth Avenue listed for, and what would it cost each month?
588 Danforth Avenue is listed for $2,295,000. With 20% down ($459,000), the mortgage payment would be roughly $9,257 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $12,162 a month, all in. That figure is an illustration, not a quote.
Is 588 Danforth Avenue freehold or a condo, and is there a monthly fee?
588 Danforth Avenue is a store w apt / office in Playter Estates-Danforth, 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 588 Danforth Avenue have a garage and parking?
Yes. The listing shows the garage as outside/surface. The driveway adds 2 spaces. In total the listing counts 2 parking spaces.
What style of home is 588 Danforth Avenue?
588 Danforth Avenue is a store w apt / office. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 588 Danforth Avenue, and what is the lot size?
The lot is listed as 16 x 120 ft.
How is 588 Danforth Avenue heated and cooled?
Heating is gas forced air open. Cooling is yes.
What are the property taxes for 588 Danforth Avenue?
Property taxes are $34,858 a year (2025), or about $2,905 a month.
Where is 588 Danforth Avenue?
588 Danforth Avenue is in the Playter Estates-Danforth community of Toronto. The nearest main intersection is West Of Pape Ave. The postal code is M4K 1R1.
Is 588 Danforth Avenue still for sale?
Yes. It is an active listing (MLS® E13766972). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 588 Danforth Avenue asking?
Similar properties for sale nearby right now include 783 Danforth Avenue at $2,300,000, 1299 Danforth Avenue at $2,450,000 and 1236 Danforth Avenue at $2,100,000. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 588 Danforth Avenue 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 588 Danforth Avenue?
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.
Similar properties nearby
More properties for sale near Playter Estates-Danforth, picked by style, size and price.
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Commercial retail$2,100,0001236 Danforth Avenue, TorontoDanforthCourtesy of: CENTURY 21 HERITAGE GROUP LTD.View home →Courtesy of: RE/MAX REALTRON REALTY INC.
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.