1122 Castlefield Avenue, Toronto, ON

Description

Strategically located in Toronto's highly sought-after Castlefield Design & Décor District, this freestanding commercial asset presents a rare opportunity for both immediate income and significant future redevelopment upside. The property is situated within Prestige Employment (PE) zoning under Former City of York By-law 1-83, permitting a wide range of uses, while supporting intensification in line with employment corridor policies. The property has a proven planning history. A Committee of Adjustment approval authorized the construction of a two-storey addition over the existing structure, confirming the City's support for increased density and built form on this site. This precedent significantly strengthens the case for future vertical expansion or redevelopment. Surrounded by a rapidly evolving mixed-use employment node and benefitting from strong arterial exposure near Dufferin Street, the site offers long-term potential for: Vertical intensification (additional storeys, subject to approvals); Multi-tenant commercial conversion; Office/showroom repositioning; Assembly with neighbouring parcels for larger-scale redevelopment. The property is currently occupied by a tenant on a month-to-month basis, providing maximum flexibility for investors, end-users, or developers to reposition or redevelop in the near term. With ongoing transformation of the Castlefield corridor and increasing demand for creative office and design-oriented commercial space, this asset represents a compelling opportunity to capitalize on both income and future land value appreciation.