505 Richmond St W #K23 is a business in Toronto, listed for $149,999.
1Exceptional Turn-Key Business Opportunity - Own a The Alley Franchise in the Heart of Downtown Toronto!
2Located inside the popular Waterworks Food Hall, this recently established business is fully built out, professionally designed, and ready for a seamless transition to new ownership.
3The business has already built an excellent reputation with outstanding online reviews, creating a strong foundation for continued growth.
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Zara is an AI virtual agent. Advisors are licensed REALTORS® at Coldwell Banker Summit Realty, Brokerage.
Commercial Property in Toronto
Unit K23 at 505 Richmond Street West
Exceptional Turn-Key Business Opportunity - Own a The Alley Franchise in the Heart of Downtown Toronto! Take advantage of this rare opportunity to own a The Alley bubble tea franchise in one of Toronto's most vibrant, high-traffic destinations. Located inside the popular Waterworks Food Hall, this recently established business is fully built out, professionally designed, and ready for a seamless transition to new ownership. This modern, turn-key operation comes fully equipped, fully staffed, and fully operational, allowing you to start generating revenue from day one. The business has already built an excellent reputation with outstanding online reviews, creating a strong foundation for continued growth. Waterworks Food Hall is home to nearly 25 food and beverage vendors, making it one of Toronto's premier culinary destinations. The location attracts a steady stream of customers from the surrounding residential towers, office buildings, hotels, and tourist attractions, while regular community events, live entertainment, private functions, and corporate gatherings provide consistent opportunities to increase sales. An added advantage is the dedicated event hall within Waterworks, where vendors have opportunities to provide catering for private and corporate events, creating an additional revenue stream beyond daily walk-in traffic. As part of the internationally recognized The Alley brand, you'll benefit from proven operating systems, ongoing franchisor support, and strong brand recognition. This is an outstanding opportunity for an owner-operator, entrepreneur, or investor looking to acquire a stylish, fully operational business with tremendous growth potential in one of downtown Toronto's most sought-after food destinations.
Toronto business priced at $149,999 — book a tour to see if it fits your search.
Inside 505 Richmond St W #K23
Every detail from the listing, in one place.
Type
Business
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Sale Of Business
505 Richmond St W #K23 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.
How long is your commute?
From 505 Richmond St W #K23. Typical times without traffic delays; transit times aren't available yet.
For homeowners nearby
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5194.5%On average, homes sold at or above asking.
Active listings11,861Homes for sale here right now.
Median vs prior 90 days+0.6%Compared with May 12 – Aug 10, 2026: prices up.
Based on 9,125 sales from Aug 10 – Nov 8, 2026 (7,196 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
4 for sale · 1 for rent at 505 Richmond St W — plus its sale and lease history.
505 Richmond St W #K23 is listed at $149,999 (MLS® C13593486). Summitly updates the price as soon as the MLS® record changes.
Has the price of 505 Richmond St W #K23 changed?
Yes — it was first listed at $250,000 and is now $149,999, a drop of $100,001 (40.0%).
How many bedrooms and bathrooms does 505 Richmond St W #K23 have?
The listing for 505 Richmond St W #K23 doesn't publish its bedroom and bathroom count. It is a commercial property in Toronto.
Is 505 Richmond St W #K23 close to transit?
The nearest rapid-transit station is Osgoode Station (Line 1), about 1.1 km (about a 14-minute walk) in a straight line. St. Andrew Station is about 1.2 km (about a 15-minute walk), and St. Patrick Station is about 1.2 km (about a 15-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 505 Richmond St W #K23 compare with other homes in Toronto?
Its asking price of $149,999 is about 82% below the median sold price in Toronto over the last 90 days, $844,900, across 9,125 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 505 Richmond St W #K23 been sold before?
Summitly has no earlier MLS® sale or lease of 505 Richmond St W #K23 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 505 Richmond St W #K23?
505 Richmond St W #K23 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 505 Richmond St W #K23 been on the market?
109 days — 505 Richmond St W #K23 was listed on July 22, 2026.
What is the land transfer tax on 505 Richmond St W #K23?
About $2,450 at the asking price of $149,999: $1,225 Ontario land transfer tax plus $1,225 Toronto municipal land transfer tax. First-time buyers can get up to $4,000 back from Ontario and up to $4,475 from Toronto. Legal fees and other closing costs are extra.
How do I book a viewing of 505 Richmond St W #K23 or make an offer?
Select "Book a viewing" on this page and pick a time. A licensed Coldwell Banker Summit Realty, Brokerage agent confirms it with the listing brokerage. When you're ready, your agent prepares the offer with you and submits it to the listing brokerage.
What is the property tax for 505 Richmond St W #K23?
The listing for 505 Richmond St W #K23 doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Toronto.
When was 505 Richmond St W #K23 built?
The listing for 505 Richmond St W #K23 doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
