If you've ever walked around Chinatown you'll probably have seen 302 Spadina Ave.

It's a pretty plain looking building that houses the UC Canada Gifts store, you know the one with the giant wood carved bear out front? Yeah, that one!

The building also has a pharmacy, dental clinic, The Cross-Cultural Community Services Association (TCCSA) and 27 residential units in there too. 

A view of the building from the street. 

Now, the entire building has been listed for sale at a whopping $17,000,000.

The five-storey building is being advertised as an "excellent income property" with one commercial unit available for lease.

The driveway to the parking. 

Designated as a mixed-use area, 302 Spadina Ave. promises a fusion of residential, commercial, and retail spaces, making it a goldmine for those with a vision for the evolving urban landscape.

The building boasts a substantial total rentable area of approximately 32,937 square feet, making it a formidable player in the downtown real estate game.

And of the 27 residential units, there's almost a 100 per cent occupancy rate.

There is currently only one bachelor unit available for rent at $1,700 a month with the ability to also add parking for $150 a month.

There are also five office units catering to the dynamic professional crowd, and two retail spaces offering a vibrant hub for local businesses to thrive.

Additionally, there are three storage units and a total of 23 parking spots.

The back of the building and parking spots. 

So while it's hard to say how much actual income this property generates without knowing the cap rate or how much the retail or office spaces are leased for – blogTO didn't receive a response from the listing agent by the time of publication – you could make over $40K a year from just the parking.

And location wise it doesn't really get much better than Spadina Ave. and Dundas St. W. 

Further, the building's foundation has been designed to accommodate a six-storey structure.

That's right – an additional storey can be added, which opens up even more income potential.

But the chances that a single investor buys this and keeps it as is seems unlikely. 

A view of downtown from a balcony. 

With everything that's been happening downtown, especially in Chinatown, we wouldn't be surprised if this building gets completely razed and replaced with a bigger condo building.