K23 - 505 Richmond Street W, Toronto
Exceptional Turn-Key Business Opportunity - Own a The Alley Franchise in the Heart of Downtown Toronto! Take advantage of this rare opportunity to own a The Alley bubble tea franchise in one of Toronto's most vibrant, high-traffic destinations. Located inside the popular Waterworks Food Hall, this recently established business is fully built out, professionally designed, and ready for a seamless transition to new ownership. This modern, turn-key operation comes fully equipped, fully staffed, and fully operational, allowing you to start generating revenue from day one. The business has already built an excellent reputation with outstanding online reviews, creating a strong foundation for continued growth. Waterworks Food Hall is home to nearly 25 food and beverage vendors, making it one of Toronto's premier culinary destinations. The location attracts a steady stream of customers from the surrounding residential towers, office buildings, hotels, and tourist attractions, while regular community events, live entertainment, private functions, and corporate gatherings provide consistent opportunities to increase sales. An added advantage is the dedicated event hall within Waterworks, where vendors have opportunities to provide catering for private and corporate events, creating an additional revenue stream beyond daily walk-in traffic. As part of the internationally recognized The Alley brand, you'll benefit from proven operating systems, ongoing franchisor support, and strong brand recognition. This is an outstanding opportunity for an owner-operator, entrepreneur, or investor looking to acquire a stylish, fully operational business with tremendous growth potential in one of downtown Toronto's most sought-after food destinations. (id:1945)
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Property details for K23 - 505 Richmond Street W, Toronto
- Type
- Commercial
- Lot Size
- Unit=14.7 x 12.3 FT
- Parking
- Underground
- Heating
- Other
- Cooling
- Fully air conditioned
Nearby Listings Stat
Estimated price and comparable properties near K23 - 505 Richmond Street W
Active Listings
1581
Min Price
$1
Max Price
$23,985,000
Avg Price
$1,069,496
Days on Market
66
days
Sold Listings
658
Min Sold Price
$1
Max Sold Price
$349,000,000
Avg Sold Price
$1,441,727
Days until Sold
64
days
Neighbourhood Census Data
Toronto, Ontario
Population
1,887
Median Age
34
Median Income
$57,088
Dwelling Value
$500,404
Housing Tenure
Owners 46%
Renters 54%
Age Distribution
Dwelling Types
Commute Mode
Education Level
Housing Age
Commute Duration
Avg Household Size: 1.5
Pop. Density: 12,775.9/km²
Avg Shelter Cost: $2,105/mo
Owners with Mortgage: 75%
Owners Spending 30%+: 36%
Tenants Spending 30%+: 45.3%
English only: 81.4%
English and French: 17.5%
Neither: 1.6%
Median Household Income: $77,397
Median Employment Income: $59,666
Price History
Listed
July 22, 2026
by EXIT REALTY LEGACY
Current Price
$149,999
-25% from last change
Type
Commercial
For Sale
Price Changes
2
| Date | Price | Change |
|---|---|---|
| Current | $149,999 | $50,000 (-25%) |
| Oct 13, 2026 | $199,999 | $50,001 (-20%) |
| Sep 8, 2026 | $250,000 | Listed |