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Price Change · Listed Sep 5, 2026 · 54 days on market

231 Millway Avenue 7, 8 , 23, Vaughan, ON L4K 3W7

$9,888,888

Commercial · Industrial · 18193 sq ft · For Sale

Exceptional owner-user and investment opportunity in one of Vaughan's most dynamic employment and mixed-use corridors. Offering consists of three legally separate industrial condominium units totaling approximately 18,193 sq. ft., currently operating as one seamless facility with no demising walls, providing the functionality of a single large industrial building while preserving the flexibility of three legal units. 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, ideal for food processing, cold storage, distribution, manufacturing and specialty operations.Two separately leased spaces currently generate $3,600/month each ($7,200/month total), providing modest interim holding income while occupying or planning future use. Ownership has invested approximately $50,000 in engineering fees to date and holds open permits for a bathroom upgrade and new mezzanine staircase (est. $25,000 to complete) - a head start on value-add work already underway.The broader complex has received approval for Prestige Mixed-Use II designation under the newly-approved Vaughan Official Plan, expanding permitted commercial, retail and office uses. A separate planning application affecting the wider complex is expected before the City; a favourable outcome could enhance long-term value, though any such potential is speculative, would require assembly of the broader 22-unit condominium (of which the subject comprises 3 units), and remains subject to further approvals and purchaser due diligence. Prominent corner exposure on Millway Avenue, minutes to Highways 400, 407, 7 and the Vaughan Metropolitan Centre subway. An outstanding opportunity for owner-users, developers and investors seeking a premium industrial asset with holding income and long-term upside in one of Vaughan's fastest-growing corridors.

Property summary

TypeCommercial
SubtypeIndustrial
Business typeCooler/Freezer/Food Inspect
Building area18193 Square Feet
Bathrooms4
Lot size1 × 1 ft
Taxes$50,011 / yr
GarageOutside/Surface
Condo fee$1,960 / mo
PossessionFlexible
OccupantOwner+Tenant
Property
Age31-50
Lot size18193
Lot width1
Lot depth1
Lot shapeIrregular
Building & Loading
Clear height (ft)20
Clear height (in)2
Power & Services
Heating typeGas Forced Air Closed
UtilitiesYes
Residential
Bathrooms4
GarageOutside/Surface
Zoning & Taxes
Taxes / yr$50,011
Tax year2025
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Data provided by TRREB. Listed by KELLER WILLIAMS ADVANTAGE REALTY.

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