Theatre Park — Rental Market Data

Theatre Park at 224 King St W holds two active listings as of August 31, 2026, with asking rents ranging from $4,650 to $20,000 per month, an average of $12,325, and a median of $12,325. Both suites average 950 square feet at $4.89 per square foot, and the entire active inventory is composed of two-bedroom layouts representing 100 percent of available units. This is a stark departure from the building's historical leasing profile, where one-bedroom suites of roughly 671 square feet were the dominant transaction type, meaning current availability leans heavily toward larger, higher-priced executive layouts rather than compact entry-level options.

The two-bedroom tier is the sole active layout at Theatre Park, accounting for both listings and 100 percent of current inventory. The two available two-bedroom suites average $12,325 per month at 950 square feet, equating to $4.89 per square foot. No studio or one-bedroom units are currently on the market, so renters seeking smaller footprints at this address have zero options in those tiers.

Theatre Park's two active listings span a dollar spread of $15,350, from a minimum entry rent of $4,650 to a peak asking rent of $20,000 per month, a 330.1 percent spread. The median asking rent is $12,325 per month. The entry-level suite is a two-bedroom unit at 950 square feet and $4.89 per square foot, while the peak listing is also a two-bedroom unit whose exact square footage and per-square-foot rate are not specified in the current data set.

Theatre Park's active den premium cannot be quantified from current listings, as no paired den versus non-den comparison exists in the two available units. Marginal cost per square foot for additional den space is therefore unmeasurable at this time. Parking stall premiums also cannot be reliably isolated from the current sample; the data set flags insufficient paired observations to produce a credible figure, and no verified historical parking benchmark exists in the leasing record either.

Theatre Park's active asking rent of $12,325 per month and $4.89 per square foot compare against Entertainment District benchmarks of $3,542 per month and $5.53 per square foot. The building's rate per square foot is 11.6 percent below the submarket asking benchmark, meaning the higher nominal monthly rent is driven entirely by the substantially larger 950-square-foot suite footprints rather than a premium per-unit pricing. Theatre Park's two active listings represent a small slice of the broader market, accounting for 2 out of 153 total active listings in the Entertainment District submarket.

Theatre Park's all-time average lease rent of $3,013 per month sits $256 above the four-comp average of $2,757 and $257 above the Entertainment District submarket benchmark of $2,756. Boutique Condos II at 126 Simcoe St (0.15 km) closed leases averaging $2,695 per month at $4.18 per square foot across 652-square-foot suites, while Boutique Condos I at 21 Nelson St (0.15 km) recorded $2,550 per month at $4.19 per square foot over 626 square feet. Studio 2 at 30 Nelson St (0.18 km) is the rate leader in the set at $3,027 per month and $4.99 per square foot for 650-square-foot units, and Symphony Place at 71 Simcoe St (0.18 km) posted no closed-lease data in the trailing 180 days, leaving Theatre Park as the second-highest renter in the immediate cluster.

Theatre Park leases at $4.57 per square foot for an average 671-square-foot suite, a rate that is 9.3% above Boutique Condos II ($4.18/SF), 9.1% above Boutique Condos I ($4.19/SF), and 8.4% below Studio 2 ($4.99/SF) in the Entertainment District. Tenants at Theatre Park receive 19 more square feet than the 652-square-foot average at Boutique Condos II, 45 more than the 626-square-foot average at Boutique Condos I, and 21 more than the 650-square-foot average at Studio 2, yet pay $0.42 per square foot less than Studio 2's rate. The practical trade-off is that renters gain meaningful interior space over every nearby competitor while accepting a per-square-foot premium over the two Boutique Condos towers; against Studio 2, they trade a slightly lower rate for a comparable footprint, making Theatre Park the best value-for-space option in the 0.15–0.18 km radius.

Theatre Park differentiates itself in the Entertainment District through a lifestyle package anchored by an on-site restaurant-bar and dedicated change rooms—two amenities absent from every nearby competitor. Where Boutique Condos I and Boutique Condos II both offer indoor pools, sauna and steam rooms, and business centres, Theatre Park counters with an outdoor pool, a rooftop terrace with BBQ area, and a yoga studio that together create a more social, open-air wellness experience. The building also provides a party and lounge room and concierge security on par with its peers, but it forgoes the games and billiards rooms found at Studio 2 and the private cabanas at Boutique Condos I. This amenity mix—centered on casual dining, outdoor recreation, and fitness—best serves young professionals in their late twenties to mid-thirties who prioritize social convenience and wellness over formal business infrastructure.