Address
46 Kensington Avenue # Main/basement, Toronto, ON
Price
$ 568,000
Property Attributes
  • ID#C13783316
  • TypeCommercial
  • Listing Status New
  • CityToronto
  • AreaKensington-Chinatown
  • NeighbourhoodKensington-Chinatown
  • Postal CodeM5T 2K1
  • StyleFast Food/Takeout
  • Taxes$ 15160
  • Price$ 568,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1300
Data Source:
Toronto Real Estate Board (TRREB)
Property Description

Fong On Foods Ltd is a well-established Asian food manufacturing, wholesale and retail business located on prime frontage in Toronto's iconic Kensington Market. Operating with a front-store and back-factory model, the company specializes in handmade traditional Asian tofu products, rice cakes, and premium Asian pastries. The business generates its core revenue from B2B wholesale distribution, with in-store retail serving as a steady supplementary income stream. Its product lineup includes fresh tofu, fried tofu, tofu pudding, traditional sugar rice cakes, and pandan mung bean cakes - high-demand daily essential food items with stable recurring consumption. The company has built long-term, reliable supply partnerships with major Asian supermarket chains across the Greater Toronto Area, including T&T Supermarket, Nations Fresh Foods, Foody Mart, Bestco, FreshWay, and Btrust. Tofu products are primarily distributed to local wholesale food companies, while signature pastries are supplied directly to retail supermarkets. The operating premise is leased at a monthly base rent of CAD 4,500 with no additional TMI fees. The tenancy has no fixed expiry date, and the landlord has confirmed willingness for continuous renewal. Future rent adjustments will be based solely on property tax increases, providing exceptional rental stability and predictable overhead costs compared to typical commercial leases in Toronto. The core value of this business lies in its established wholesale distribution channels, stable corporate client base, mature product formulas, decades-long local brand reputation, and consistent repeat order flow. All production equipment and operational assets are included in the business sale. As a staple fresh food manufacturer, the business features low cyclical risk, steady customer loyalty, and resilient demand throughout all seasons.

Price History
9/15/2026 Listed $568,000

General Features

Cooling Partial
Heater Type Gas Forced Air Open
Unit Number MAIN/BASEMENT
Property Subtype Sale Of Business
Tax Year 2025
Lot Depth 95.75
Business Type Fast Food/Takeout
Community Features Public Transit
County Toronto
New Construction No
Property Type Commercial
Attached Garage No
Garage Y/N No
Status New
City Toronto C01
Senior Community Y/N No
Lot Size Units Feet
Property Attached Y/N No
Tax Annual Amount 15160.0
Building Area Units Square Feet
Standard Status Active
Occupancy Type Owner+Tenant

Interior Features

Basement (Y/N) Yes
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Elevator? No
SeatingCapacity 2

Exterior Features

Garage Type None
Spa No
Building Area Total 1300.0
Waterfront Y/N No

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in M5T 2K1

Price
AVG $570K
$570K
Taxes
AVG $15,160
$15,160
Visits
AVG 20
12
Data Provided by Inside Real Estate®