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69 Long Branch Avenue Etobicoke, On FOR SALE 69 LONG BRANCH AVENUE ETOBICOKE, ON Park Lawn Rd. The Queensway Hwy. 427 Hwy. Gardiner Expressway QEW Evans Ave. Horner Ave. Royal york Rd. york Royal Lake Shore Blvd. West Islington Ave. OVERVIEW Brown’s Line Brown’s Lake Shore Ave. Kipling Blvd. West Subject Property Lake Ontario Total NEIGHBOURHOOD OVERVIEW Population* Long Branch is a well established neighbourhood located along the Toronto waterfront at 44,963 the south-west part of the city located in the former City of Etobicoke. Average HH Income* This lakeside village is comprised of picturesque waterfront parks, Humber College and $86,647 associated amenities, a public library, a waterfront trail, a Go Transit station and a vibrant NEIGHBOURHOOD shopping district. Several significant residential and commercial developments are Projected 10-Year currently in various stages of development in the immediate area, including the Lakeview Population Village Redevelopment Project. Growth* +10.59% 69 LONG BRANCH AVENUE | FOR SALE 1 *Source: CoStar, 2016 3km radius MAP AERIAL 69 LONG BRANCH AVENUE | FOR SALE 2 OFFERING SUMMARY Designed by Murray Brown & Elton Architects, this offering presents a unique opportunity to acquire a historically significant building in a rapidly developing area. Currently used as a school and place of worship, the building has tall vaulted ceilings with an abundance of natural light. The property is complete with outdoor green space and a private parking area at the back of the building. The property is very well serviced by public transit with close proximity to the Long Branch Loop and conveniently located within walking distance to Humber College. The Property includes municipal address 24 Marina Avenue and has the potential for continued use by a religious, educational, institutional organization or residential redevelopment. The building has been designated heritage by the City of Toronto. Current tenants are month-to-month. DETAILS Location Corner of Long Branch Ave. south of Lakeshore Blvd. West in Etobicoke Zoning RM (u4) (x2) OVERVIEW Lot Size 15,000 SF Frontage 150 Feet on Long Branch Ave. and 100 Feet on Marina Ave. GFA 7,400 SF Legal Description PCL 9-1-E, SEC M9; LTS 9, 10, & 11 Etobicoke City of Toronto Parking 10 Spots Electrical Service 225 Amps (69 Long Branch Ave.) + 100 Amps (24 Marina Ave.) Heating Hot Water Radiators PROPERTY Cooling Window A/C Units ASKING PRICE $3,950,000 69 LONG BRANCH AVENUE | FOR SALE 3 RENT ROLL Annual Annual TMI Total Annual Lease Unit Sq. Ft. Lease Start Date Base Rent Reimbursement Gross Rent Maturity Date 69 Long Branch Ave. 6,000 $69,600 $29,771.99 $99,371.99 Sep. 17, 2015 Month-to-Month 24 Marina Ave. 1,400 $16,800 - $16,800.00 Mar. 1, 2017 Month-to-Month 7,400 $86,400 $29,771.99 $116,171.99 FINANCIALS Income Gross Income $116,171.99 ROLL Expenses Property Tax (2018) $33,629.51 RENT Insurance $4,434.00 Utilities Paid by tenants Net Operating Income $78,108.48 69 LONG BRANCH AVENUE | FOR SALE 4 SURVEY 69 Long Branch Ave. 24 Marina Ave. 69 LONG BRANCH AVENUE | FOR SALE 5 OFFICIAL PLAN DESIGNATION* The property is designated Neighbourhoods under the City of Toronto’s Official Plan. Subject Property DESIGNATIONS ZONING* The property is subject to zoning RM (u2) (x4) under the new City of Toronto Zoning By-Law 569-2013 which permits, provided certain conditions are met, a number of residential and non-residential uses, including but not limited to: ❏ Community Centre ❏ Day Nursery LAND USE ❏ Municipal Shelter ❏ Nursing Home ❏ Place of Worship ❏ Respite Care Facility ❏ Retirement Home ❏ Seniors Community House 69 LONG BRANCH AVENUE | FOR SALE 6 *Source: City of Toronto VILLAGE LAKEVIEW VILLAGE* Sold in March 2018 for $275 million by the Ontario Power Generation to a consortium of developers, this 177-acre site is one of the largest master-planned communities in the GTA. Situated 2.5 kilometers, or a 5-minute drive, east of the subject property, the project is slated for construction starting in 2020 and will welcome 15,000 to 17,000 new residents. This new community will also create approximately 4,000 new jobs with over 700,000 SF of office LAKEVIEW and 100,000 SF of retail space. The City of Mississauga proposed amendment to the Official Plan was approved on July 4th, 2018, thereby clearing the way for the project to proceed. 69 LONG BRANCH AVENUE | FOR SALE 7 *Source: City of Mississauga, Lakeview Community Partners HUMBER COLLEGE - LAKESHORE CAMPUS* Located a 2-minute drive east of the subject property, the Humber College Lakeshore Campus is home to more than 10,600 full-time students with over 400 living in residence. The campus now consists of a number of cottage buildings and the more modern and now renovated Lakeshore Teachers College facilities that were COLLEGE extensively re-worked in the early 1980s. The L-Building was opened in 2011 at the Lakeshore Campus, as an addition to the cottages located around it. The Business School at Humber offers more areas of study and specialized choices than any other business school in Ontario, including a wide range of diploma, degree and postgraduate programs for the future HUMBER business professional in areas such as international business, healthcare management, accounting, fashion management, finance, human resources and marketing. The campus is complete with hiking, walking and biking trails and is minutes from downtown and on the Toronto public transit line. 69 LONG BRANCH AVENUE | FOR SALE 8 *Source: Humber College TTC LONG BRANCH LOOP* The Long Branch Loop is the westernmost stop on the Toronto Transit Commission (TTC) streetcar route 501 Queen line, which, at 24.8 kilometres is the longest streetcar route operating in Canada and one of the longest streetcar routes operating in the world. As of 2014, ridership is upwards of 52,200 persons per day. The loop is the terminus for TTC bus routes 110 Islington South to Islington subway station, 123 Shorncliffe to LOOP Kipling subway station, MiWay bus routes 5 Dixie north to Mississauga's Northeast Employment District and 23 Lakeshore west to Clarkson GO Station. The loop features a storage track and a waiting shelter located in the centre of a loading platform with a GO Train station, just a few metres to the west of the shelter. In today’s transportation picture, Long Branch Loop is LONG BRANCH almost as important an interchange as Islington Station, or the York Regional Terminal at Finch Station. 69 LONG BRANCH AVENUE | FOR SALE 9 *Source: Toronto Transit Commission Built on Connections. 626 King St West Suite 302 Toronto, ON M5V1M7 416.703.6621 www.metcomrealty.com Urban Commercial Advisory Group Amir Nourbakhsh* 416.703.6621 x252 [email protected] Anthony Martino* 416.703.6621 x244 [email protected] Jesse Roth* 416.703.6621 x243 [email protected] *Sales Representative.
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