Toronto Retail Real Estate Market
Q1 2026 Toronto retail market reported vacancy rate at 2.4% (0 bps QoQ, +80 bps YoY). Avg NNN asking rent at $35.41/sf (-$0.34 QoQ) and retail cap rate at 5.1% (0 bps QoQ, +10 bps YoY). Additional indicators included avg sale price at $501.00/sf, net absorption (12-mo trailing) at -1.5M sf, and under construction at 589K sf.
Vacancy, net asking rents, cap rates, absorption, submarket detail and public-REIT exposure across Greater Toronto Area, drawn from broker research. Q1 2026 · Updated July 15, 2026.
Sources: Lee & Associates retail Q1 2026 · Q1 2026 broker research
Vacancy rate
2.4%
1 broker source
Avg NNN asking rent
$35.41/sf
1 broker source
Retail cap rate
5.1%
1 broker source
Avg sale price
$501.00/sf
1 broker source
Net absorption (12-mo trailing)
-1.5M sf
1 broker source
Under construction
589K sf
1 broker source