588 Danforth Ave is a 5-bathroom commercial in Toronto, listed for $2,295,000.
1This 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.
2Additional highlights include two central air conditioning and heating systems (one per floor), a total of five washrooms, and two parking spaces at the rear.
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5 Bath Commercial Property in Toronto
About 588 Danforth Avenue
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.
Toronto commercial priced at $2,295,000 — book a tour to see if it fits your search.
Inside 588 Danforth Ave
Every detail from the listing, in one place.
Type
Commercial
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Store W Apt/Office
588 Danforth Ave Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® E13766972$2,295,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 588 Danforth Ave Compares to the Toronto Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Zara’s estimate
$•,•••,•••
Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.
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From 588 Danforth Ave. Typical times without traffic delays; transit times aren't available yet.
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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 ratio5227.1%On average, homes sold at or above asking.
Active listings12,611Homes for sale here right now.
Median vs prior 90 days0.0%Compared with May 3 – Aug 1, 2026.
Based on 9,067 sales from Aug 1 – Oct 30, 2026 (7,001 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
588 Danforth Ave is listed at $2,295,000 (MLS® E13766972). Summitly updates the price as soon as the MLS® record changes.
Has the price of 588 Danforth Ave changed?
No — 588 Danforth Ave is still listed at its original asking price of $2,295,000.
How many bedrooms and bathrooms does 588 Danforth Ave have?
588 Danforth Ave has 5 bathrooms. It is a commercial property in Toronto.
Is 588 Danforth Ave close to transit?
The nearest rapid-transit station is Pape Station (Line 2), about 190 m (about a 2-minute walk) in a straight line. Chester Station is about 470 m (about a 6-minute walk), and Donlands Station is about 760 m (about a 10-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 588 Danforth Ave compare with other homes in Toronto?
Its asking price of $2,295,000 is about 173% above the median sold price in Toronto over the last 90 days, $840,000, across 9,067 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 588 Danforth Ave been sold before?
Summitly has no earlier MLS® sale or lease of 588 Danforth Ave on record from the last two years. Older records aren't shown under TRREB rules.
Where is 588 Danforth Ave?
588 Danforth Ave is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 588 Danforth Ave been on the market?
51 days — 588 Danforth Ave was listed on September 9, 2026.
What is the land transfer tax on 588 Danforth Ave?
About $87,700 at the asking price of $2,295,000: $43,850 Ontario land transfer tax plus $43,850 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 588 Danforth Ave 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 588 Danforth Ave?
The listing for 588 Danforth Ave 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 588 Danforth Ave built?
The listing for 588 Danforth Ave doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
