$50,000 FOR SALE

Business for Sale

Restaurant

Total Area: 1,692 ft2
2022 Taxes: $19.8

3290 Midland Ave #6R & 7
Toronto, ON M1V 3Z9 | Milliken

Great Location, , In The Heart Of Scarborough's Well Known Scarborough Village Mall With Busy Traffic. Adjacent To The Popular Skycity Shopping Centre. The Restaurant Has Been Operating Profitably For 13 Years. Ideal For New Buyer To Operate The Same Cuisine And Can Also Be Converted To Any Other Cuisines. All Chattels And Equipment Are Included. New Buyer To Assume The Existing Lease And May Negotiate Longer Lease With The Landlord.

Extras
Current Monthly Gross Rent $10,053.30 (Net Rent $7,261.50 + TMI: $2,792 ) + HST. The Lease Will Be Expired On March 31,2025. Qualified Buyer May Negotiate With The Landlord For Extending Another 5 Years Term. Tenant Pays All Utilities.

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Listed By VISAR REALTY INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number E6130540
Last Updated Mar 06, 2024
Property Summary
Property Type Business For Sale

More like this:
Use Restaurant
Franchise Non-Franchise
Business/Building Name Scarborough Village Mall
Category Without Property
Occupancy Tenant
Possession Date TBA
Taxes (2022) $19.8
Tax Type T.M.I.
Directions/Cross Streets Midland/Finch
Neighbourhood Milliken
Area Toronto
Price History
Interested in obtaining the full price history for this property?
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Detailed Information
Freestanding N
Retail Area 1,692 ft2
Total Area 1,692 ft2
Air Conditioning Y
Basement N
Chattels Y
Garage Type Plaza
Days Open 6
Hours Open 5-5
LLBO N
Employees 5
Heat Type Gas Forced Air Open
Financial Statement N
Gross Income/Sales $1,250,000
Net Income Before Debt $150,000
Operating Expenses $1,100,000
Year Expenses $2,022
Expenses Actual/Estimated Est
Area Influences Public Transit
Seats 80
Utilities Y
Water Municipal
Lot/Bldg/Unit Code Unit
Zoning Commercial
Seller Property Info Statement N

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