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$2,250,000
London East
523 Richmond Street, London East (East B), Ontario, N6A3E8
This retail property in London East is for sale offering roughly 7,700 sq ft of space. It has been on the market 13 days, fresher than the London East average of 46 days.
One-of-a-kind opportunity to purchase an exceptional commercial property with a fully equipped restaurant in the heart of London's vibrant Richmond Row. Located at 523 Richmond Street, this beautifully rebuilt building showcases artistic design, exceptional craftsmanship and over 7,700 sq. ft. of finished space, including a large finished basement. The impressive restaurant layout features private dining space, a spectacular outdoor courtyard ideal for dining and special events, and a front patio overlooking Richmond Street. Liquor-licensed capacity for 187 indoor seats plus 94 patio seats, subject to applicable approvals. A separate Richmond Street entrance leads to an approximately 1,200 sq. ft. upper-level apartment, currently rented and providing supplementary income. Outstanding exposure in a lively, walkable downtown destination surrounded by shopping, dining and entertainment. A fantastic opportunity for an owner-operator or investor to acquire a distinctive property with extensive restaurant infrastructure. The entire property could be available with vacant possession, subject to existing tenancy arrangements and applicable requirements. (id:66096)
Features and services as supplied by the listing brokerage.
Active: 13 days on market, against an average age of 46 days across the listings currently for sale in this city
This retail in London East (East B) has been listed for 13 days, which is 33 days fresher than the city average of 46. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $2,250,000, about 36.8× the local median household income of $61,200.
Carrying it typically needs a household income of about $439,504 (20% down, 25-yr amortization, stress-tested) — roughly 618% above the area median.
Source: Statistics Canada, 2021 Census (FSA N6A)
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