398 Richmond Street, London East (East K) - Business for Sale
398 Richmond Street, London East (East K), Ontario, N6A3C7
This business in London East is for sale offering roughly 1,330 sq ft of space.
Description
ATTENTION BUSINESS BUYERS - YOUR SEARCH STOPS HERE! A rare opportunity to take over a well-established convenience store with nearly three decades of proven operation! Successfully operated by the same owners since 1998, this business is now being offered for sale as the owners are ready to retire after an incredible run. Located on Richmond Street, near the busy Richmond & Dundas area, this convenience store benefits from excellent exposure and a convenient location. The business offers an attractive lease rate of only $2,900/month + HST, providing an excellent opportunity for an owner-operator looking to step into an established business with a loyal customer base. Average weekly sales of approximately $8,500 plus monthly Lotto commissions of approximately $1,700 provide multiple revenue streams and strong potential for a motivated new owner to build upon the existing success. After 27+ years of continuous ownership and operation, opportunities like this don't come around often. Whether you're an experienced operator or looking to enter the convenience-store business, this is a turnkey opportunity worth exploring. Act now - established business, proven history, attractive lease, and prime location! (id:66096)
Property Details
- MLS®
- X13660734
- Property Type
- Business
- Business Type
- Retail and Wholesale
- Zoning
- DA1
- Interior Size
- 1,330 ft²
- Lot Size
- 24 × 55 ft (1,311 sq ft)
- Frontage
- 24 ft
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
- Listed
- 87 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Long Listed: 87 days on market, against an average age of 87 days across the listings currently for sale in this city
This business in London East (East K) has been listed for 87 days, right at the city average. A solid opportunity worth looking into.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (N6A)
This home lists at $99,000, about 1.6× the local median household income of $61,200.
Carrying it typically needs a household income of about $19,338 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.
- Median household income
- $61,200
- Population
- 13,810
- Median age
- 34
- Owner / renter
- 29% / 71%
- Avg. household size
- 1.8
Source: Statistics Canada, 2021 Census (FSA N6A)
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$99,000
London East