231 Millway Avenue

About this property

Exceptional owner-user and investment opportunity Vaughan's premier employment district. Offering consists of three legally separate industrial condominium units approximately 18,193 sq. ft., currently operating as one seamless facility with no separating demising walls, providing the functionality of a single large industrial building while preserving the flexibility of three legal units. The property features approximately 20% finished office/showroom space with mezzanine, 20' clear height, full sprinkler system, 1 truck-level loading door, 2 drive-in shipping doors, and six industrial walk-in freezers, making it ideal for food processing, cold storage, distribution, manufacturing and specialty operations. Two separately leased spaces currently generate $3,600 per month each ($7,200/month total), providing attractive holding income while occupying or planning for future use. Ownership has invested approximately $50,000 in engineering fees to date and holds open permits for a bathroom upgrade and a new mezzanine staircase (estimated $25,000 to complete), giving a purchaser a head start on value-add improvements already in progress. The property has received approval for Prestige Mixed-Use designation, creating significant long-term redevelopment potential. Ownership believes the approved planning framework may provide substantial future value enhancement, with potential upside estimated at more than $300 per square foot, subject to purchaser verification, approvals and independent due diligence. Ideally situated on a prominent corner within a well-maintained industrial complex with excellent exposure along Millway Avenue and immediate access to Highways 400, 407 and Highway 7, just minutes from Vaughan Metropolitan Centre subway station. An outstanding opportunity for owner-users, developers and investors seeking a premium industrial asset with immediate income and exceptional long-term upside in one of Vaughan's fastest-growing employment and mixed-use corridors.

Property details

MLS® Number

N13749096

Property Type

Industrial

Lot Size

1 × 1 feet

Garage

Outside/Surface

Heating

Gas Forced Air Closed

Cooling

Yes

Annual Taxes

$50,011

Listed

September 5, 2026

Brokerage

KELLER WILLIAMS ADVANTAGE REALTY