588 Danforth Avenue
Playter Estates-Danforth, Toronto, M4K 1R1
$2,295,000
- 5 bathrooms
Listed 40 days ago · MLS® E13766972
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.
Details
- Type
- Store W Apt/Office
- Lot
- 16 × 120 ft
- Garage
- Outside/Surface
- Property tax
- $34,858 (2025)
- Neighbourhood
- Playter Estates-Danforth
- Municipality
- Toronto E03
Interior
- Bathrooms
- 5 × bathroom
Heating, cooling and services
- Heating
- Gas Forced Air Open
- Air conditioning
- Yes
- Utilities
- Yes
Building and exterior
- Building area
- 2,700 Square Feet
More
- Possession
- TO BE ARRANGED
- Cross street
- West Of Pape Ave
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
- 🚇 Pape Subway3 min walk
- 🚇 Chester Subway7 min walk
- 🚆 Danforth GO3.8 km
Within a 10-minute walk: 11 grocery stores, 112 cafés and restaurants, 14 parks, 11 pharmacies. Nearest grocery: Foodland (100 m). Nearest park: Carlaw Avenue Parkette (50 m).
Schools nearby
Elementary
- Holy Name Catholic School Catholic
EQAO: Gr 6 reading 91%, math 69%3 min walk - Frankland Community School
EQAO: Gr 6 reading 97%, math 52%6 min walk - Jackman Avenue Junior Public School
EQAO: Gr 6 reading 90%, math 55%9 min walk - Kapapamahchakwew - Wandering Spirit School
EQAO: Gr 6 reading 64%, math 9%12 min walk
Secondary
- Earl Grey Senior Public School9 min walk
- Subway Academy I Private13 min walk
- Westwood Middle School15 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 M4K
- Owners / renters
- 45% / 55%
- Median household income
- $84,000
- Average age
- 43
- Children under 15
- 14%
- Homes
- 16% detached, 35% high-rise
- Commute by transit
- 31%
- Population
- 30,913
Languages spoken most at home besides English: Greek 3%, Yue (Cantonese) 1.8%, Spanish 1%, Serbian 0.9%.
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 Playter Estates-Danforth (2025): 50% above the Toronto average, down 9% from the year before.
- Assault82% above average
- Break and enter25% above average
- Auto theftabout average
- Robbery24% below average
- Theft from vehicles237% above average
- Shootings46% 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 3 active
-
680 DANFORTH AVE · 200 mSite Plan · Under Review · applied 2024Site Plan Approval for the Pape Station as part of the Ontario Line SubwayApplication details
-
654 DANFORTH AVE · 150 mOfficial Plan / Zoning By-law Amendment · Appeal Received · applied 2022The proposal is to construct a new 49-storey mixed-use building with three levels of underground parking. The ground level includes a shared residential and…Application details
-
654-656 DANFORTH AVE · 150 mSite Plan · Under Review · applied 2022The proposal is to construct a new 49-storey mixed-use building with three levels of underground parking. The ground level includes a shared residential and…Application details
-
743 PAPE AVE · 150 mSite Plan · Closed · applied 2023The Ontario Line will include a station and interface with the existing TTC Pape Station. This Site Plan Review (SPR) package includes the interim…Application details
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): 5 km. Transit times · Driving times
Coming transit
- 🚧 Pape 250 m
- 🚧 Cosburn 1.2 km
- 🚧 Gerrard 1.3 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.
Building permits
- Interior Alterations · 2023 · ClosedProposed interior alterations to an existing take-out restaurant. *Smoke's Poutine*
- Addition · 2018 · ClosedREVISION 4 - Proposal to enclose existing roof top platfrom and convert second floor dwelling unit to office.[Proposal to construct…
5 permits on this block of the street in the last 2 years, including 3 new homes.
Permits filed with the City of Toronto. A permit doesn’t mean the work passed final inspection.
Trees
55 City street trees within 100 m. 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 REALTRON REALTY INC..
Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.
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