#8 360 Springbank Drive, London South (South D) - Business for Sale
#8 360 Springbank Drive, London South (South D), Ontario, N6J1G5
This business in London South is for sale offering roughly 3,500 sq ft of space. It has been on the market 50 days, fresher than the London South average of 59 days.
Description
Chattels-only sale opportunity at 360 Springbank Drive with an attractive lease rate! This 3,500 sf prime corner unit is situated in a well-established plaza in Springbank, one of London's most sought-after neighbourhoods, with excellent exposure and ample free parking. The premises feature a fully built-out restaurant with a large turnkey commercial kitchen and bar, including over 15 feet of commercial exhaust hood, walk-in cooler, walk-in freezer, dishwashing equipment, flat-top grill, gas grill, prep tables, and much more. The exterior offers a newly constructed covered and heated patio, plus a separate uncovered patio area. The restaurant was previously licensed for up to 132 patrons indoors and 50 patrons on the patio. Existing bar includes 4 under counter coolers and a keg dispensing cooler. Additional features include three renovated washrooms and an active liquor sales licence, subject to AGCO approval and transfer requirements. Lease rate is $24.00 per sq. ft. net, plus approximately $8.50 per sq. ft. TMI, totalling approximately $9,479.17 per month plus HST and utilities. Chattels only-the existing business and trade name are not included. All information is to be independently verified by the buyer. (id:66096)
Property Details
- MLS®
- X13784136
- Property Type
- Business
- Business Type
- Restaurant
- Zoning
- CSA1
- Interior Size
- 3,500 ft²
- Lot Size
- 252 × 204 ft (1.18 acres)
- Frontage
- 252 ft
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
- Property Tax
- $8.5/yr
- Listed
- 50 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Long Listed: 50 days on market, against an average age of 59 days across the listings currently for sale in this city
This business in London South (South D) has been listed for 50 days, which is 9 days fresher than the city average of 59. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (N6J)
This home lists at $149,999, about 2.3× the local median household income of $65,000.
Carrying it typically needs a household income of about $29,300 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.
- Median household income
- $65,000
- Population
- 27,497
- Median age
- 43.6
- Owner / renter
- 49% / 51%
- Avg. household size
- 2.1
Source: Statistics Canada, 2021 Census (FSA N6J)
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$149,999
London South