Kensington Market is constantly evolving, but more recently, large lots of land have been popping up for sale, begging the question of if Kensington will remain the quirky place Toronto residents know and love?  

Now, yet another big parcel of land is up for grabs, as 77-79 Nassau St. has just been listed for $3,500,000.

The view from the back of the parking lot to the street.

This unique property is actually the spacious surface parking lot for Bristol Car and Truck Rental Toronto.

So with no buildings actually on the land, it's the perfect canvas for creative redevelopment, promising endless possibilities for the savvy investor.

Spanning almost 7,000 square feet, this irregularly shaped parcel of land boasts a prime location near the University of Toronto, Chinatown, and Little Italy, ensuring a steady stream of potential customers and tenants.

An overview of the property. 

The land is still within the Kensington Market Heritage Conservation District (HCD), which aims to conserve the area's cultural and built heritage.

This doesn't mean a condo building couldn't go up; it just means that whatever does go up needs to adhere to the surrounding style.

With some rezoning work, this plot could host any number of land uses, from commercial ventures to residential or mixed-use developments.

The view of the parking lot from Nassau St.

We could totally see a vibrant retail space that caters to the diverse community, a stylish residential complex that blends modern design with historical charm, or a dynamic mixed-use development that becomes the new heartbeat of the neighbourhood. 

But it could also just stay a parking lot, providing a steady income while plans for redevelopment are finalized.

Parking lots do make a ton of money, especially in downtown Toronto.

This flexibility ensures that the property can be a lucrative investment from day one.

The parking lot. 

Either way, this parking lot is probably going to see some big changes soon, and it is kind of exciting to ponder what this little pocket of Kensington could become.