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Real Estate

Sale of the Week: The $2.3-million building that shows what commercial frontage on Queen West is worth

Sale of the Week: The $2.3-million building that shows what commercial frontage on Queen West is worth
Listed At
$2,680,000
Sold For
$2,300,000

Neighbourhood: Trinity Bellwoods

The Property: A Queen West commercial-residential property, with a storefront at street level and living space above.

The History: The seller bought the property four years ago, wanting a place to stay when she was visiting her daughter, who goes to school nearby. She renovated the living space into a modern two-storey loft.

The Fate: The buyers are a couple looking to move into the area. They loved the renovation and the potential for extra income from the storefront downstairs, currently leased to a candle boutique.

The Sale: The selling agent marketed the property on Facebook, and also reached out to some personal contacts. He says the fact that the storefront is already under lease was a dealbreaker for a few suitors who wanted to use the space themselves. There were a few interested parties, but none were able to offer anywhere near the asking price. Finally, after the agent spent weeks courting several buyers, a five-way bidding war ensued. The seller took the highest offer, at $380,000 under asking.

By The Numbers:

  • $2,300,000
  • $15,362.39 in property taxes (2015)
  • 174 days on the market
  • 14.83-by-107.33-foot lot
  • 4 bathrooms
  • 3 bedrooms
  • 0 parking spaces
The house for sale at 654 Queen Street West

The seller turned the upstairs living space into a modern, two-storey loft.

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That brown cabinet in the background is actually a Murphy bed.

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The kitchen is small, but it’s modern.

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One of two bedrooms, with terrace access.

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The master bedroom.

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The third-floor terrace.

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