Promenade Park II — Rental Market Data

Promenade Park II has one active listing as of August 31, 2026, asking $3,000 per month with both the minimum and maximum rent at that single figure. The available suite spans 950 square feet at $3.16 per square foot, and the 100 percent layout share belongs to a two-bedroom configuration. With only one unit on the market, inventory is neither skewed toward compact entry-level suites nor multi-bedroom executive layouts; it is a single mid-range two-bedroom offering with no tiered alternatives for renters.

The sole active layout at Promenade Park II is a two-bedroom suite, representing 100 percent of available inventory with one listing at $3,000 per month. That unit measures 950 square feet and carries an asking rate of $3.16 per square foot, placing it in the mid-range of the Thornhill submarket. No one-bedroom, studio, or three-bedroom units are currently listed, so renters seeking alternative bedroom counts must look to other Thornhill buildings.

Promenade Park II's single active listing sets both the minimum and maximum asking rent at $3,000 per month, producing a dollar spread of zero and a percentage spread of zero. The entry-level and peak suite are the same unit: a 950-square-foot two-bedroom at $3.16 per square foot. With only one listing on the market, there is no internal price gradient to evaluate, and the median asking rent of $3,000 simply reflects that lone transaction.

Promenade Park II's active den premium and associated square-footage delta cannot be quantified from the current single-listing sample, as no paired den versus non-den comparison exists in the active inventory. Parking stall costs likewise cannot be reliably isolated; the available data presents an anomalous outlier or insufficient paired sample, so no specific monthly parking fee can be quoted with confidence. Renters should request a direct parking add-on quote from the leasing office before signing a lease.

Promenade Park II's active asking rent of $3,000 per month exceeds the Thornhill submarket average asking rent of $2,726, but the building's rate of $3.16 per square foot sits 13.7 percent below the submarket asking benchmark of $3.66 per square foot. The nominal rent premium is fully explained by suite size: the active unit at 950 square feet is 205 square feet larger than the submarket implied average of 745 square feet, meaning renters are paying for additional living area rather than a per-unit-area premium. Promenade Park II accounts for one out of 63 available listings in the Thornhill submarket, a 1.6 percent share of total active inventory.

Promenade Park II's average realized lease rent of $2,725 per month sits $91 below the four-comp benchmark of $2,816, placing the subject slightly under the immediate peer average. Promenade Park (100 Promenade Cir, 0.01 km, 3 closed leases) averaged $2,550 per month at $3.35 per square foot across 762 square feet, meaning the subject commands a $175 higher monthly rent than that building. Royal Promenade II (110 Promenade Circ, 0.09 km, 2 closed leases) averaged $3,200 per month at $2.46 per square foot across 1,300 square feet, so the subject trades at a $475 lower monthly rent. Promenade Park Towers – Building B (50 Upper Mall Way, 0.2 km, 16 closed leases) averaged $2,439 per month at $3.94 per square foot across 642 square feet, with the subject realizing a $286 higher monthly rent. Royal Promenade I (120 Promenade Circ, 0.2 km, 5 closed leases) averaged $3,076 per month at $2.78 per square foot across 1,110 square feet, placing the subject at a $351 lower monthly rent. All four comparables recorded closed lease transactions over the trailing 180 days, so each provides an active pricing benchmark rather than a reference-only data point.

Promenade Park II leases at $3.17 per square foot across an average 867-square-foot suite, a rate $0.04 per square foot above the comp average of $3.13 but on a footprint 87 square feet smaller than the 954-square-foot comp mean. Against Promenade Park (762 sq ft, $3.35/sq ft), the subject trades at a $0.18 per square foot discount while providing 105 more interior square feet; the $175 higher nominal rent is driven entirely by the larger footprint rather than a per-unit valuation premium. Against Promenade Park Towers – Building B (642 sq ft, $3.94/sq ft), the subject trades at a $0.77 per square foot discount while providing 225 more interior square feet, and the $286 higher monthly rent again reflects the expanded suite size. Against Royal Promenade II (1,300 sq ft, $2.46/sq ft), the subject commands a $0.71 per square foot premium but provides 433 fewer interior square feet; the $475 lower nominal rent is a direct function of the smaller footprint, not a weaker asset valuation. Against Royal Promenade I (1,110 sq ft, $2.78/sq ft), the subject commands a $0.39 per square foot premium while providing 243 fewer interior square feet, with the $351 lower monthly rent again attributable to the reduced square footage rather than a discount in per-unit pricing.

Promenade Park II offers an 11-feature lifestyle package anchored by an indoor pool, putting green, and meeting room—amenities that distinguish it from both the 1990s Royal Promenade pair and the 2025 Promenade Park Towers – Building B. The indoor pool sets the subject apart from Royal Promenade I and Royal Promenade II, which each offer only an outdoor pool, giving year-round aquatic access a clear seasonal advantage. The putting green is unique within this four-building cluster; no competitor lists a golf-adjacent recreational feature. The meeting room, present at the subject, is absent from both Royal Promenade buildings, though Promenade Park Towers – Building B does include a dedicated business centre and dining room that the subject lacks. Conversely, the 2025 tower offers a yoga studio, golf simulator, rooftop terrace, children's playground, indoor kids' play room, dog run, pet wash station, and parcel room—none of which appear in the subject's amenity list. Royal Promenade I and II carry tennis and pickleball courts (and Royal Promenade I adds squash and racquetball) that the subject does not provide. The subject's package best serves professionals and small families who prioritize indoor aquatic recreation, a dedicated work or meeting space, and low-maintenance social amenities without the outdoor-sport or pet-infrastructure emphasis of its older or newer peers.