502 Queen Street W

Kensington-Chinatown, Toronto, M5V 2B3

$4,500,000

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Listed 59 days ago · MLS® C13704106

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.

Details

Type
Commercial Retail
Lot
15.18 × 122 ft
Garage
None
Property tax
$48,000 (2025)
Neighbourhood
Kensington-Chinatown
Municipality
Toronto C01

Heating, cooling and services

Heating
Gas Forced Air Open
Air conditioning
Yes
Water and sewer
Storm Available
Utilities
Available

Building and exterior

Building area
3,070 Square Feet

More

Possession
Flex
Cross street
Queen/Portland
Business type
Hospitality/Food Related

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

  • 🚇 Osgoode Subway1.2 km
  • 🚇 St. Patrick Subway1.3 km
  • 🚆 Toronto Union Station GO1.7 km

Within a 10-minute walk: 23 grocery stores, 424 cafés and restaurants, 18 parks, 21 pharmacies. Nearest grocery: Natural Foods (0 m). Nearest park: The Alex Wilson Community Garden (100 m).

Schools nearby

Elementary

  • ALPHA Alternative Junior School5 min walk
  • St. Mary Catholic School Catholic
    EQAO: Gr 6 reading 100%, math 38%
    6 min walk
  • Ryerson Community School
    EQAO: Gr 6 reading 65%, math 26%
    6 min walk
  • Ogden Junior Public School
    EQAO: Gr 6 reading 77%, math 53%
    8 min walk

Secondary

  • Oasis Alternative Secondary School5 min walk
  • Downtown Vocal Music Academy of Toronto Private6 min walk
  • Heydon Park Secondary School
    EQAO: Gr 9 math 8%
    15 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area M5V

Owners / renters
42% / 58%
Median household income
$91,000
Average age
35
Children under 15
6%
Homes
0% detached, 97% high-rise
Commute by transit
23%
Population
59,912

Languages spoken most at home besides English: Mandarin 3.7%, Spanish 1.5%, Yue (Cantonese) 1%, Hindi 1%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Major crime per resident in Kensington-Chinatown (2025): 126% above the Toronto average, down 13% from the year before.

  • Assault163% above average
  • Break and enter134% above average
  • Auto theft47% below average
  • Robbery146% above average
  • Theft from vehicles302% above average
  • Shootings169% above average

Crime Severity Index for Toronto police: 60 vs 57 for Ontario (2025).

Police-reported figures for the whole neighbourhood, not this street. Rates use the area’s resident population.

Development nearby 31 active

  • 539 KING ST W · 400 m
    Plan of Condominium · Under Review · applied 2025
    Draft Plan of Standard Condominium for 439 units.
    Application details
  • 451 ADELAIDE ST W · 300 m
    Official Plan / Zoning By-law Amendment · Appeal Received · applied 2025
    Zoning By-law Amendment for a 17-storey (59.65m including mechanical penthouse) hotel containing 144 suites.
    Application details
  • 71 PORTLAND ST · 450 m
    Site Plan · Under Review · applied 2024
    Proposed mixed-use building containing 1,058 units, 23-storey and 27-storey towers atop a nine-storey base building.
    Application details
  • 71 PORTLAND ST · 450 m
    Site Plan · Under Review · applied 2024
    Proposed 40-storey, 123 metre, mixed-use building containing 413 residential units.
    Application details
  • 8 CAMDEN ST · 350 m
    Site Plan · Under Review · applied 2023
    Site Plan Application to permit a 19-storey mixed use building with retail space on the ground floor and 200 residential units above.
    Application details
  • 47 CAMDEN ST · 300 m
    Site Plan · Under Review · applied 2023
    Site plan control resubmission for a 18-storey (57.85m including mechanical penthouse) mixed-use building with retail space on the ground floor and 255…
    Application details

34 more within 500 m.

Rezoning, site plan, subdivision and condominium applications filed with the city.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Neighbourhood crime: Toronto Police Service Public Safety Data Portal (Open Government Licence – Toronto Police Service). Crime Severity Index: Statistics Canada. Planning applications: City of Toronto open data.

Living here

Commute

To Union Station (downtown Toronto): 2 km. Transit times · Driving times

Coming transit

  • 🚧 Chinatown 400 m
  • 🚧 King West GO Transit400 m
  • 🚧 Osgoode 1.2 km

Stations under construction or approved. Opening dates are the latest public estimates and often move.

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

What can be built CR

Commercial Residential (with a site-specific exception).

From Toronto’s Zoning By-law 569-2013 map. Lot size, setbacks and trees decide what actually fits; check with a planner before you buy.

Full lot check · Run the numbers

Heritage Protected

This address is on Toronto’s Heritage Register: Designated (Part IV). Changes to the outside (and sometimes inside) usually need a heritage permit, and demolition is restricted.

Heritage Register entry

Building permits

  • Interior Alterations · 2018 · Closed
    Proposal for interior alterations to ground floor of an existing multiple unit building. Tenant - "Cauldron Ice Cream Store"

12 permits on this block of the street in the last 2 years, including 1 new home.

Permits filed with the City of Toronto. A permit doesn’t mean the work passed final inspection.

Trees

56 City street trees within 100 m, mostly honeys. That’s more than the Toronto average of 42.

Trees on City boulevards only, not private yards or parks.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Zoning, heritage, building permits and street trees: City of Toronto open data (Open Government Licence – Toronto). Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by RE/MAX ACE REALTY INC..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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