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

$2,588,000 /For Sale

Commercial

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• Details
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Status:

Active

Prop. Type:

Commercial

MLS® Num:

C13808150

• Photos (46)

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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.

General Info:

Property Type:

Commercial

Property Sub Type:

Office

Freestanding:

Yes

Total Area:

2886 sq. ft. Square Feet

Total Area:

2,886 sq. ft.268 m2

Office/Apt Area:

2886 sq. ft. Sq Ft

Lot Depth:

117'8"35.9 m

Lot Frontage:

50'15.2 m

Water supply:

Municipal

Soil Test:

Yes

Zoning:

CR

Additional Info:

Heating type:

Gas Forced Air Closed

Garage:

None

Parking Spaces:

13

Possession Details:

Immediate

Financial Info:

HST Applicable To Sale Price:

Included In

Type Taxes:

Annual

Taxes:

$10,696.31 / 2026

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto C07

Listing Sub-Area:

Lansing-Westgate

Area Influences:

Public Transit, Subways

Security Features:

No

Rental Items:

Hot water tank

Inclusions:

3 stoves, 3 fridges, 1 washer/dryer, all window coverings and lighting fixtures.

Elevator:

None

Other Details:

Utilities:

Yes

Air Conditioning:

Yes

Seller Property Info Statement:

No

Business Info:

Category:

Office

Listing Info:

Date Listed:

Sep 21, 2026

Original Price:

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Previous Price:

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Listed by ONE PERCENT REALTY LTD.

Data was last updated September 21, 2026 at 12:15 PM (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.