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430 Richmond St
London, ON N6A 3C9
Retail Property For Sale

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INVESTMENT HIGHLIGHTS

  • Fully compliant
  • Common area coin laundry for extra weekly income
  • Approved fire plan in place.

EXECUTIVE SUMMARY

Incredible Opportunity to own this cash flow positive, full renovated, mixed use residential/commercial building along Richmond Street. Located just South of Queens Street, steps away from new downtown bus loop. Walking distance to Covent Garden Market, Budweiser Gardens and Fanshawe Downtown Campus. Ground floor consists of a open concept bachelor suite with 3 piece washroom. Main floor consists of 2000 SF of retail space with separate 2 piece washroom and staff/office area, currently leased to marijuana dispensary. Second floor has 2 apartments completely renovated; 1-2 bedroom and 1 open concept Bachelor unit 800 SF, with 4 piece bathroom leased for $1600 inclusive. Spacious 1200 SF 2 bedroom with 3 piece bathroom, living, dining, kitchen leased for $2000 inclusive. The third floor consists of 2 open concept bachelor units both with 3 piece bathrooms leased at $1600 and $1400 inclusive. Common area coin laundry for extra weekly income. **** EXTRAS **** Approved fire plan in place. Rental License with City of London.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,781 SF
Building Class
B
Year Built
1861
Price
$1,499,000 CAD
Price Per SF
$259.30 CAD
Cap Rate
12%
NOI
$179,880 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.56
Lot Size
0.09 AC
Zoning
h-3, DA1, D350 - Commercial
Frontage
21’ on Richmond St

AMENITIES

  • Bus Line
  • Listing ID: 33449611

  • Date on Market: 2024-10-08

  • Last Updated:

  • Address: 430 Richmond St, London, ON N6A 3C9

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