Looking for a commercial residential for sale? These mixed-use properties offer flexibility and income potential, blending business space with residential living. Whether you’re an investor, entrepreneur, or buyer seeking passive income, commercial-residential real estate presents excellent long-term value.

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198 1/2 Carlton Street

Cabbagetown-South St. James Town Toronto M5A 2K8

$799,000 /For Sale

Commercial

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• Details
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Status:

Active

Prop. Type:

Commercial

MLS® Num:

C13708834

• Photos (43)

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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.

General Info:

Property Type:

Commercial

Property Sub Type:

Store W Apt/Office

Freestanding:

No

Total Area:

2678 sq. ft. Square Feet

Total Area:

2,678 sq. ft.249 m2

Retail Area:

1118 sq. ft. Sq Ft

Office/Apt Area:

1073 sq. ft. Sq Ft

Lot Depth:

100'30.5 m

Lot Frontage:

18'5"5.61 m

Water supply:

Municipal

Zoning:

CR1

Additional Info:

Heating type:

Radiant

Garage:

Lane

Possession Details:

TBD

Financial Info:

HST Applicable To Sale Price:

Not Subject to HST

Type Taxes:

Annual

Taxes:

$8,056.77 / 2026

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto C08

Listing Sub-Area:

Cabbagetown-South St. James Town

Security Features:

No

Inclusions:

All Existing Appliances, All Existing Window Coverings & All Existing Light Fixtures. All Chattels & Fixtures in "As-Is" Condition.

Other Details:

Utilities:

Yes

Air Conditioning:

No

Seller Property Info Statement:

No

Business Info:

Category:

Store With Apt/Office

Listing Info:

Date Listed:

Aug 25, 2026

Original Price:

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Previous Price:

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Listed by RARE REAL ESTATE

Data was last updated August 25, 2026 at 06:15 AM (UTC)

• DARYL KING
• RE/MAX HALLMARK REALTY LIMITED
• 1 (905) 9075464
• homes@darylking.com

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.

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Why Choose a Commercial Residential Property?

• Dual Income Potential – Earn from both residential tenants and commercial leases
• Ideal for Business Owners – Live and work in the same space or rent one out
• High Demand in Urban Centers – Great appreciation in key GTA neighborhoods
• Tax Benefits – Potential deductions for property taxes, mortgage interest, and depreciation

Explore Commercial Residential Across the GTA

From downtown Toronto storefronts with apartments above to suburban mixed-use lots, the GTA offers diverse opportunities. Consider locations like:

• Hamilton & Durham – More affordable options with upside potential
• Toronto Core – High foot traffic and visibility
• Vaughan & Richmond Hill – Rapid suburban growth

Tips for Buying a Commercial Residential Property

Make sure to research zoning laws, expected rental yields, and property management needs. Consult professionals for financing, legal advice, and inspections.

Start Your Search for a Commercial Residential Property Today

Browse our listings to find a property that suits your investment goals or lifestyle. Whether you’re expanding a business or building long-term equity, now is the time to invest in this versatile property type.

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Each link provides updated listings and expert insights.

FAQs – Commercial Residential for Sale

1. What is a commercial residential property?
It’s a mixed-use property that combines residential living space with commercial units, like retail or office.

2. Are these properties good investments?
Yes. They offer dual income streams and strong appreciation in high-growth areas.

3. Can I live in the residential portion and rent the commercial part?
Absolutely. Many owners choose to occupy one space and lease the other for income.

4. What financing options are available?
You may need a commercial mortgage or mixed-use loan; rates and terms vary from traditional home loans.