It is part of a chain of villages stretching over a distance of 10 kilometres on the east side of Skálafjørður (fjord) on Eysturoy island.

[citation needed] Toftir has one major retail store with late opening hours, one café Í Hópinum, which serves liquor, and a shop, Navia which sells woollens and also souvenirs.

[citation needed] Toftir has a relatively large harbour with a filleting plant that opened in 1969, and hosts the headquarters of Faroe Fish Market.

The major sports venue in Toftir is the Svangaskarð, the first of its kind in the Faroe Islands.

The village's football team, B68 Toftir, was established in 1962 and has won the Faroese league 3 times, in 1984, 1985 and 1992.