Palace Pier — Rental Market Data

Palace Pier has one active listing as of August 31, 2026, priced at $5,500 per month, which serves as both the average and median asking rent. The available suite spans 890 square feet at an asking rate of $6.18 per square foot. This single unit is a 3-bedroom-plus layout representing 100 percent of current active inventory, placing the building squarely in the multi-bedroom executive tier rather than the compact entry-level segment that dominates broader Mimico listings.

The sole active layout at Palace Pier is a 3-bedroom-plus unit, accounting for 100 percent of available inventory with one listing. That unit asks $5,500 per month on 890 square feet, equating to $6.18 per square foot. No one-bedroom or two-bedroom tiers are currently listed, so renters seeking smaller configurations must look to other Mimico buildings.

Palace Pier's single active listing sets both the minimum and maximum asking rent at $5,500 per month, producing a dollar spread of zero and a percentage spread of zero. The entry-level and peak suite are the same 3-bedroom-plus unit at 890 square feet and $6.18 per square foot. With only one unit on the market, there is no internal price gradient to compare, and the median asking rent of $5,500 simply reflects that lone transaction.

Palace Pier's active den premium and associated square-footage delta cannot be quantified from the current single-listing sample. Marginal cost per square foot for additional den space is therefore unreported. Parking stall costs also cannot be reliably isolated, as the paired data sample is insufficient to separate a genuine parking add-on from anomalous pricing outliers.

Palace Pier's active asking rent of $5,500 per month and $6.18 per square foot both exceed the Mimico submarket averages of $3,167 per month and $4.45 per square foot, respectively. The nominal rent gap is explained by suite size: the active unit's 890 square feet is 178 square feet larger than the submarket implied average of 712 square feet, so the higher total rent tracks with the expanded footprint rather than a pure rate premium. Even so, the per-square-foot asking rate runs 38.9 percent above the submarket benchmark. Palace Pier holds one out of 61 active listings in the Mimico submarket, representing roughly 1.6 percent of current neighbourhood inventory.

Palace Pier's all-time average realized lease rent of $5,117 per month exceeds the three-transaction comp benchmark of $3,150 per month by $1,967, with the primary active competitors being Palace Place and The Player's Club. Palace Place at 1 Palace Pier Crt (0.06 km) closed four leases averaging $3,800 per month at $3.36 per square foot across 1,138 square feet; Nevis – Tower at 88 Palace Pier Crt (0.15 km) closed one lease at $2,050 per month, $3.73 per square foot, and 550 square feet; and The Player's Club at 2067 Lake Shore Blvd W (0.19 km) closed one lease at $3,600 per month, $9.00 per square foot, and 400 square feet. Nevis – Villa at 80 Palace Pier Crt (0.14 km) recorded zero closed leases in the past 180 days and therefore has no realized rent benchmark to compare against.

Palace Pier's $4.21 per square foot lease rate and 1,658-square-foot average suite size position it as a space-rich, mid-rate option within the immediate Mimico pocket, where the comp average runs $5.36 per square foot and 696 square feet. Against Palace Place, the subject commands a $0.85 per square foot (25.3%) premium while providing 520 more interior square feet, meaning the higher nominal rent of $1,317 per month is driven by the larger footprint rather than a per-unit valuation gap. Versus Nevis – Tower, the subject commands a $0.48 per square foot (12.9%) premium and delivers 1,108 more square feet, so the $3,067-per-month rent differential reflects the building's expansive layout. The sharpest trade-off appears with The Player's Club: the subject trades at a $4.79 per square foot (53.2%) discount below that competitor's $9.00 per square foot rate, yet still realizes $1,517 more per month in nominal rent because the subject provides 1,258 more interior square feet—confirming that the rent gap is a function of suite scale, not asset valuation.

Palace Pier offers one of the most extensive lifestyle packages in the immediate cluster, with 24 named amenities spanning aquatic, fitness, sports, remote-work, and family categories that exceed every nearby peer. The building's indoor pool, hot tub, sauna, basketball court, tennis and pickleball court, squash and racquetball court, golf simulator, kids' play room, in-house restaurant, and in-house convenience store are features absent from Nevis – Tower, The Player's Club, and Nevis – Villa, while Palace Place matches on pool and racquet sports but adds valet parking and a driving range that Palace Pier lacks. The subject's combination of full-court sports, aquatic wellness, dedicated remote-work meeting rooms, and on-site dining and retail most directly serves families and multi-generational households seeking a self-contained residential campus without leaving the building.