242 Queen Street W, Toronto C01, ON M5V 1Z7, Toronto C01, ON
3870.0 sqft
Landmark end-user/investment opportunity in a prime high-traffic Queen St W location between John and McCaul Streets. Ground floor retail currently leased to Dragon Vape, one of Canada's largest e-cigarette suppliers, secured with corporate covenant via wholesale operations. Vacant possession of retail available on closing for end users. Direct sightlines to Bell Media HQ provide rare on-air visibility and strong pedestrian traffic. Previously leased to John Fluevog and Wine Rack at premium rents. Upper levels include two large semi-attached 3-bedroom apartments with stable month-to-month tenants and rooftop decks/patios. 3rd floor currently accessed through 2nd floor unit with potential to combine into a large 2-floor, 6-bedroom apartment or reconfigure to increase rents. Bonus high, dry basement (not included in total square footage), large rear parking, and double-door shipping access with potential for future expansion due to unused lot area. Excellent transit access including multiple streetcar routes and the future Ontario Subway Line, providing walkable access to Queen / Spadina and Osgoode Stations with connections across the city and GO Transit (estimated completion 2030).
Property Highlights
For Sale
MLS NO.
C12972592
Type
Commercial
Sub Type
Commercial Retail
Square Footage
3870.0 sqft
Complete Property Details
Property Type
Commercial
Sub Type
Commercial Retail
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
C12972592
Security Features
Partial
Lot Width
17.06
Garage Type
Lane
Cooling
Partial
Heat Type
Gas Forced Air Open
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
242 Queen Street W, Toronto C01, ON M5V 1Z7
City
Toronto C01
Neighbourhood
Kensington-Chinatown
County / Region
Toronto
Province / State
ON
Postal Code
M5V 1Z7
Cross Street
Queen Street W between John St & McCaul directly across Bell HQ
Directions
Queen St W between John St & McCaul directly across from Bell HQ
List Price
$3,299,000
Annual Taxes
$40,125
Tax Year
2025
Legal Description
PT PARKLT 13 CON 1 FTB TWP OF YORK AS IN CA105297; CITY OF TORONTO
Possession Type
Immediate
Possession Details
Immediate
Listing Office
CUSHMAN & WAKEFIELD
Board
Toronto Regional Real Estate Board
Original Entry
2026-04-08T18:42:33Z
Media Updated
2026-04-09T15:02:01Z
Photos Updated
2026-04-09T15:02:01Z
Last Modified
2026-04-09T15:02:01Z
System Modified
2026-04-09T15:02:01.130336Z
MLS Status
New
Basement Yn
Yes
Co List Office Name
CUSHMAN & WAKEFIELD
Ddfyn
No
Expiration Date
2026-09-25
Heat Type Multi
Gas Forced Air Open
Hstapplication
In Addition To
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
212070067
Public Remarks
Landmark end-user/investment opportunity in a prime high-traffic Queen St W location between John and McCaul Streets. Ground floor retail currently leased to Dragon Vape, one of Canada's largest e-cigarette suppliers, secured with corporate covenant via wholesale operations. Vacant possession of retail available on closing for end users. Direct sightlines to Bell Media HQ provide rare on-air visibility and strong pedestrian traffic. Previously leased to John Fluevog and Wine Rack at premium rents. Upper levels include two large semi-attached 3-bedroom apartments with stable month-to-month tenants and rooftop decks/patios. 3rd floor currently accessed through 2nd floor unit with potential to combine into a large 2-floor, 6-bedroom apartment or reconfigure to increase rents. Bonus high, dry basement (not included in total square footage), large rear parking, and double-door shipping access with potential for future expansion due to unused lot area. Excellent transit access including multiple streetcar routes and the future Ontario Subway Line, providing walkable access to Queen / Spadina and Osgoode Stations with connections across the city and GO Transit (estimated completion 2030).
