The Client
A plastic surgeon starting his own private practice in midtown Toronto. Smart, driven, and growing fast. He knew what he wanted — he just needed someone to help him get there without making a bad real estate decision.
| Client | Plastic surgeon, private practice |
| Location | Yonge & Lawrence, midtown Toronto |
| Original Space | 1,000 sq ft leased office |
| New Owned Space | 2,100 sq ft retail condo medical office |
| Investment Unit | 1,400 sq ft adjacent retail condo (leased to dentist, 10-year term) |
| Price Level | Approx. $900 per sq ft |
| Timeline | Approx. 20 months from purchase to move-in |
Yonge & Lawrence — midtown Toronto luxury condo with ground-floor medical and retail units
Step 1: Get Him Started — But Do Not Trap Him
When he first came to me, he just needed a clean, professional office to see patients. I put him into a 1,000 square foot office lease in midtown.
The important part was not the space. It was the way we structured the lease. We built in flexibility after the first year so he would not get stuck if his practice took off. With a client like this, you do not lock them into a long, rigid lease. You give them an exit.
Within a year he called me and said, "Dean, I need my own space. These are the parameters. This is the amount of space I need. Let's find a place." That is exactly why we kept the first lease flexible.
Step 2: Find the Long-Term Home
We found a 2,100 square foot retail unit in a brand-new luxury condo at Yonge and Lawrence. Great corner, great building, and exactly where he wanted to be.
But this was not a simple "see it and buy it" deal. The building was up, but the retail was still unfinished. The unit was not yet severed from the condo corporation. On paper, it looked like a dream. In reality, we did not fully know what we were buying.
So before we talked price, we had to answer some basic questions:
- How many parking spots are we actually getting?
- What is the electrical capacity in the unit?
- Where are the washrooms going to be?
- Where is the water main under the slab?
- What are the HVAC and mechanical specifications?
None of that was clear at the start. For a medical office, even one focused on consultations and post-op visits, those details matter a lot.
Step 3: Bring In the Right People Early
I did not want him signing anything until we knew the space could actually work. So before negotiations, we brought in a designer to map his ideal layout, a structural engineer to confirm what we could and could not touch, and an HVAC engineer to make sure the building systems could handle a medical use.
We walked the site, reviewed the plans, pushed the developer for answers, and made sure this was not going to turn into a "nice idea, bad space" problem. Only after everyone was comfortable did we move to numbers.
Step 4: Negotiate the Deal and Manage the Wait
We negotiated the deal over about three months and signed an Agreement of Purchase and Sale at roughly $900 per square foot for the 2,100 square feet. That pricing made sense for what it was — a new, high-end medical office location at Yonge and Lawrence.
Because the retail unit was not severed yet, we had to wait for the legal work on the condo side. That severance process took another eight months.
During that time, my client could not pull permits or start construction. So we used the time properly. We finalized the design, collected contractor quotes, and lined up everything so that on closing day we could move straight into permits and build-out. From signing the purchase to moving in, it took about 20 months. Not fast, but clean.
Step 5: Build the Office and Think Like an Investor
Once we closed, he took the raw 2,100 square foot shell and turned it into exactly what he wanted — a sharp, high-end medical office for consultations and post-surgery care.
While we were working through this, another opportunity opened up. The adjacent 1,400 square foot retail unit became available. He already believed in the building, the location, and the demographics. If the numbers made sense, this was the obvious next step.
He bought the neighbouring unit. We then leased that 1,400 square feet to a dental practitioner on a 10-year term. Now, instead of just being a tenant or even just an owner-user, he is also a landlord with a stable, long-term medical tenant beside his own practice.
Where He Started vs. Where He Ended Up
Leasing a 1,000 sq ft office in midtown Toronto
Owns a 2,100 sq ft medical office condo at Yonge & Lawrence
Owns a 1,400 sq ft investment unit leased to a dentist on a 10-year deal
Why This Deal Matters
For me, this deal is not about "finding space." It is about planning out the client's path. We structured the first lease properly so he could move when he was ready. We slowed things down on a complicated condo retail purchase so he did not buy the wrong unit. We brought in the right consultants early instead of pretending we had all the answers. And we stayed patient through a long severance and closing process so the timing worked in his favour.
Anyone can open a door and show a unit. The real work here was planning for where he was going, not just where he was on day one. GTA Commercial Brokers works this way on every file.
Frequently Asked Questions
Can a medical professional buy commercial real estate in Toronto?▾
Yes. Medical professionals — including physicians, surgeons, and dentists — regularly purchase retail condo units and commercial properties in Toronto for their practices. The key is finding a unit that meets the technical requirements for medical use: adequate electrical capacity, plumbing access, HVAC compatibility, and appropriate zoning or permitted use. GTA Commercial Brokers has experience guiding medical professionals through this process.
What should a doctor look for when buying a medical office condo in Toronto?▾
Beyond location and price, a medical office condo purchase requires careful due diligence on: the number of dedicated parking spots, electrical panel capacity, water and plumbing access under the slab, HVAC specifications, and whether the unit is properly severed from the condo corporation. For new developments, these details are often not finalized at the time of sale, which is why bringing in a designer, structural engineer, and HVAC consultant before signing is critical.
How long does it take to buy and build out a retail condo medical office in Toronto?▾
The timeline varies significantly depending on whether the unit is in a completed building or a new development. In this case study, the client signed an Agreement of Purchase and Sale and then waited approximately eight months for the condo unit to be legally severed before closing. From signing to move-in, the total timeline was approximately 20 months. Buyers should plan for this extended timeline when purchasing in new or recently completed developments.
Is it possible to buy an investment unit alongside a medical office purchase?▾
Yes, and it can be a smart strategy when the opportunity arises in the same building. In this case, an adjacent 1,400 sq ft retail unit became available during the purchase process. Because the client already understood the building, the location, and the tenant demographics, acquiring the second unit and leasing it to a dental practice on a 10-year term was a natural extension of the original transaction. This kind of opportunity requires staying alert during the purchase process and having a broker who is watching for it.
Why does lease structure matter even for a short-term lease?▾
A lease that looks temporary can become a trap if it is not structured with flexibility in mind. In this case, the client's initial 1,000 sq ft lease was intentionally structured with an exit provision after the first year. That flexibility is what allowed him to move when his practice grew and the right purchase opportunity appeared. A rigid long-term lease would have delayed the entire ownership path by years.
Thinking About Buying Commercial Space?
Whether you are a business owner, medical professional, or investor, GTA Commercial Brokers can help you plan the right path — not just find the next available unit.
Dean Aronovici
Commercial Real Estate Broker · GTA Commercial Brokers
Dean Aronovici is a commercial real estate broker specialising in industrial, retail, and office transactions across Toronto and the Greater Toronto Area. He works with business owners, landlords, tenants, and investors on buying, selling, leasing, and managing commercial properties.
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