448-454 Markham Road
448-454 Markham Road
$10,950,000
$136/sq ft · 2 days on market
About This Listing
448-454 Markham Rd, Scarborough, is a fully-approved townhouse development site on 1.84 acres of land, located near the major intersection of Markham Rd and Lawrence Ave E. City of Toronto zoning by-law approvals permit the development of 47 townhouses with 96,789 sf of gross floor area and 88,360 sf of saleable area. The site is approaching shovel-ready status, and Site Plan Notice of Approval Conditions are expected in the summer of 2026. The site provides builders and developers an exceptional opportunity to capitalize on the recently announced HST rebate on new home sales (expires March 31,2027) and reductions to City of Toronto development charges. The site's large size and Avenues designation also provide the potential to up-zone for additional density or explore alternative development concepts. Close proximity to Cedarbrae Mall, Cedar Heights Plaza, Eglinton GO Station, Highway 401, and Lake Ontario.
| Monthly Mortgage (P&I) | $47,708 |
| Property Tax (MLS) | $3,485 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $51,193 |
Down payment: $2,190,000 (20.0%) · Mortgage: $8,760,000
Property tax uses MLS annual tax of $41,824/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
Listing provided by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP
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Data last updated: August 22, 2026 at 10:26 p.m.