Rarely offered and full of potential, this exceptional corner property in the heart of Toronto combines commercial visibility, residential income and exciting future possibilities. Set in a high-density urban setting, 198 1/2 Carlton St presents a unique opportunity for investors, entrepreneurs and developers alike.The property features a prominent street-facing storefront with excellent exposure and a spacious apartment above, creating an ideal live-and-work configuration or valuable income-producing asset. The existing building offers character, generous interior space and an outstanding opportunity to renovate, reposition and create something truly special.The rear of the property is where the possibilities really expand. A detached brick garage with convenient laneway access provides an exciting opportunity for a future laneway suite or ADU, additional living space, creative studio, office or income-producing space with an existing loft currently constructed. The private rear area adds another valuable dimension rarely found with a central Toronto corner property.The prominent corner lot offers exceptional visibility, multiple exposures and a distinctive footprint in an area experiencing continued urban growth and intensification. With high-density development surrounding the property, this location presents exciting long-term potential for expansion, redevelopment or maximizing the existing site.Whether you're looking for a highly visible commercial space with residential income above, a live/work opportunity, an investment property with multiple revenue possibilities, or a site with future development potential, this property offers an extraordinary range of options.A truly unique Toronto offering with a storefront, apartment, corner exposure, rear garage and laneway access - all in one of the city's most dynamic urban locations. Opportunities like this are becoming increasingly rare.
Address
198 1/2 Carlton Street
List Price
$799,000
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Store W Apt/Office
Transaction Type
Sale
Area
Toronto C08
Sub-Area
Cabbagetown-South St. James Town
Region
Toronto
Lot Depth
100
Lot Type
Lot
Lot Size Units
Feet
Lot Width
18.41
Parcel Number
210870127
Total Building Area
2678
Occupant Type
Vacant
Cross Street
Carlton & Parliament St
MLS® Number
C13708834
Listing Brokerage
RARE REAL ESTATE
Basement
Yes
Postal Code
M5A 2K8
Posession Details
TBD
Tax Amount
$8,056.77
Tax Year
2026
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Radiant
Cooling Features
No
Garage Type
Lane
Tax Legal Description
PT LT 1 PL 214E TORONTO AS IN CA215206; CITY OF TORONTO
Security Features
No