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539-541 Parliament St 9,578 SF Retail Building Toronto, ON M4X 1P7 For Sale

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Investment Highlights

Fully leased to Rexall under a long-term net lease until November 2032, ensuring stable income.
Approximately 10,000 sq. ft. site with CR zoning permitting as-of-right four-story (14-meter) built form.
Property benefits from below-market financing, enhancing in-place leverage and supporting returns.

Prime corner location with high visibility in the densely populated Cabbagetown neighborhood of downtown Toronto.
Attractive covered land investment with long-term repositioning or redevelopment potential.
Surrounded by strong pedestrian traffic, neighborhood-serving retail, and ongoing residential growth.

Executive Summary

This offering represents a rare opportunity to acquire 100% freehold interest in a prominent retail asset located at the high-traffic corner of Parliament Street and Winchester Street in Cabbagetown, one of Toronto’s most established downtown neighborhoods. The property is fully leased to Rexall / Pharma Plus Pharmacies Ltd. under an original 20-year net lease that commenced in 2012 and runs through November 2032, ensuring stable and predictable cash flow from a nationally recognized pharmacy chain.
Positioned on an approximate 10,000-square-foot corner site, the property’s CR zoning allows for an as-of-right four-story (14-meter) built form, offering significant long-term redevelopment or repositioning potential. This combination of reliable income and future optionality provides a compelling covered land investment profile.
The property further benefits from below-market financing, which enhances investor leverage and supports acquisition pricing. With strong pedestrian traffic, dense residential surroundings, and continued growth in this vibrant neighborhood, 539–541 Parliament Street offers an exceptional investment and urban land opportunity in the core of Toronto.