685 RICHMOND Street, London East (East F) - Business for Sale
685 RICHMOND Street, London East (East F), Ontario, N6A5M1
This business in London East is for sale offering roughly 1,808 sq ft of space. It has been on the market 42 days, fresher than the London East average of 73 days.
Description
Excellent opportunity to own an established Philthy Philly's franchise at 685 Richmond Street, London, Ontario, ideally located in the vibrant downtown area. This established business generates annual sales of over 1.2 million , 100k Monthly sales and offers an excellent opportunity for an owner-operator or investor. Attractive lease terms with approximately 10 years remaining plus an additional 10-year renewal option. Monthly rent is approximately $5,650 including TMI. Benefit from an established franchise brand with LLBO & $0 marketing cost, providing ongoing brand exposure and support. Excellent location with seating capacity of 40 inside 40 patio, surrounded by residential, commercial, entertainment and student activity with strong pedestrian and vehicle traffic. A great opportunity to acquire an established food business with long-term lease security in one of London's active commercial areas. (id:66096)
Property Details
- MLS®
- X13816896
- Property Type
- Business
- Business Type
- Restaurant
- Zoning
- COMMERCIAL
- Interior Size
- 1,808 ft²
- Heating
- Forced air
- Cooling
- Fully air conditioned
- Listed
- 42 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Extended: 42 days on market, against an average age of 73 days across the listings currently for sale in this city
This business in London East (East F) has been listed for 42 days, which is 31 days fresher than the city average of 73. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (N6A)
This home lists at $585,000, about 9.6× the local median household income of $61,200.
Carrying it typically needs a household income of about $114,271 (20% down, 25-yr amortization, stress-tested) — roughly 87% above 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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$585,000
London East