Overview

This lot in Richmond Hill is for sale offering roughly 8,519 sq ft of space. It has been on the market 41 days, fresher than the Richmond Hill average of 51 days.

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Description

Exceptional opportunity to acquire a strategically located commercial development site in Richmond Hill, situated just northeast of Yonge Street & 16th Avenue and northeast of the Beverly Hills Condominiums. This approximately 8,518.51 sq. ft. parcel offers approximately 49.87 ft. of frontage with excellent visibility and accessibility, fronting directly onto the 16th Avenue service road. Zoned KAD-YC (5) under Zoning By-law 93-25, as amended, with a variety of potential permitted uses. Approximate GFA of 36,199 ft2. Excellent opportunity to design and develop a commercial building in a high-demand location surrounded by established and growing residential communities, amenities, transit and major transportation routes. Please refer to the attached City of Richmond Hill zoning information for permitted uses and applicable provisions. Buyer/Buyer's Agent to conduct their own due diligence and verify zoning, permitted uses, development potential, measurements, GFA and all municipal requirements. Property identified by PIN 031092447. (id:66096)

Market Timing

Days on market

41d

Richmond Hill (Langstaff) listings, avg age

51d

Price / ft²

$293

List price

$2.50M

Homes here sell faster than most markets

Sold homes in this market spent an average of 35 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 97.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This vacant land in Richmond Hill (Langstaff) has been listed for 41 days, which is 10 days fresher than the city average of 51. Act while there is still low competition.

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Area context

Neighbourhood profile (L4C)

This home lists at $2,500,000, about 29.1× the local median household income of $86,000.

Carrying it typically needs a household income of about $488,338 (20% down, 25-yr amortization, stress-tested) — roughly 468% above the area median.

Median household income: $86,000
Population: 74,636
Median age: 46
Owner / renter: 70% / 30%
Avg. household size: 2.6

Source: Statistics Canada, 2021 Census (FSA L4C)

$2,500,000· $293/ft²

For sale

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Financing

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0 16TH Avenue, Richmond Hill (Langstaff) - Vacant Land for Sale

Description

Property Details

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (L4C)

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