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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204 Sheppard Avenue W
Lansing-Westgate Toronto M2N 1N1

$2,680,000 /For Sale
Commercial

3 Parking spaces in front of the property
Photo 1: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 2: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 3: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 4: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 5: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 6: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 7: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 8: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 9: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 10: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 11: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 12: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 13: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 14: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 15: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 16: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 17: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 18: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 19: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 20: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 21: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 22: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 23: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 24: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 25: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 26: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 27: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 28: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 29: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 30: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 31: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 32: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 33: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Photo 34: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
Status:
Active
Prop. Type:
Commercial
MLS® Num:
C13471082
Rare opportunity to own a well-maintained, newer mixed-use building (built in 2004) in the highly sought-after Yonge & Sheppard corridor, just a short walk to the Yonge-Sheppard subway station and minutes from Highway 401. Zoned for both commercial and residential use, this versatile property offers exceptional flexibility for investors, owner-users, and future redevelopment opportunities. The building features three self-contained levels with separate entrances, each approximately 962 sq. ft. The main floor boasts 9-foot ceilings and pot lights throughout, while the second floor offers abundant natural light through a skylight. The lower level features 8-foot ceilings and eight large above-grade windows, creating a bright and functional space. Situated on a generous lot with 13 parking spaces, the property is ideal for a wide range of professional and commercial uses, including medical, legal, educational, and consulting offices, while also accommodating residential occupancy. Generate income from up to three separate units plus parking rentals, or occupy part of the building while leasing the remainder.Located in the heart of North York's rapidly evolving downtown core, the property is surrounded by numerous approved and proposed residential and commercial developments, with convenient access to two subway lines. Recent upgrades include a new gas furnace and central air conditioner (2025).An exceptional opportunity to invest, operate, or position yourself for future growth in one of Toronto's most dynamic urban centers.
Property Type:
Commercial
Property Sub Type:
Office
Freestanding:
Yes
Total Area:
2886 sq. ft. Square Feet
Total Area:
2,886 sq. ft.
Office/Apt Area:
2886 sq. ft. Sq Ft
Lot Depth:
117'8"
Lot Frontage:
50'
Water supply:
Municipal
Zoning:
CR
Heating type:
Gas Forced Air Closed
Garage:
None
Parking Spaces:
13
Possession Details:
flexible
HST Applicable To Sale Price:
Included In
Type Taxes:
Annual
Taxes:
$10,696.31 / 2026
Assessment:
$- / -
Toronto
Toronto C07
Lansing-Westgate
Public Transit, Subways
No
Hot water tank
3 stoves, 3 fridges, 1 washer/dryer, all window coverings and lighting fixtures.
None
Utilities:
Yes
Air Conditioning:
Yes
Seller Property Info Statement:
No
Category:
Office
Date Listed:
Jun 20, 2026
Original Price:
Previous Price:
  • Photo 1: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    3 Parking spaces in front of the property
  • Photo 2: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    3 Parking spaces in front of the property
  • Photo 3: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    3 Parking spaces in front of the property
  • Photo 4: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Main entrance
  • Photo 5: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Main entrance/entrance to the ground floor
  • Photo 6: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Main entrance/entrance to the ground floor
  • Photo 7: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor
  • Photo 8: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor
  • Photo 9: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor
  • Photo 10: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor
  • Photo 11: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor
  • Photo 12: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 1
  • Photo 13: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 1
  • Photo 14: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 2
  • Photo 15: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 2
  • Photo 16: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 2
  • Photo 17: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 3
  • Photo 18: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    2nd floor bedroom 2
  • Photo 19: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Side entrance
  • Photo 20: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Side entrance/accesses to ground floor and bsmt
  • Photo 21: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Photo 21 of 34
  • Photo 22: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Photo 22 of 34
  • Photo 23: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    Photo 23 of 34
  • Photo 24: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement
  • Photo 25: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement
  • Photo 26: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement
  • Photo 27: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement
  • Photo 28: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement
  • Photo 29: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement bedroom
  • Photo 30: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement bedroom
  • Photo 31: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    basement bedroom
  • Photo 32: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    10 parking spaces at the rear of the property
  • Photo 33: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    10 parking spaces at the rear of the property
  • Photo 34: 204 Sheppard Avenue W in Toronto: Lansing-Westgate Commercial for sale (Toronto C07)  : MLS®# C13471082
    10 parking spaces at the rear of the property
Listed by ONE PERCENT REALTY LTD.
Data was last updated June 20, 2026 at 02:15 PM (UTC)
DARYL  KING
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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.

lore More GTA Homes:

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.