$2,425,000
Richmond Hill
198 King Road, Richmond Hill (Oak Ridges), Ontario, L4E2W1
This retail property in Richmond Hill is for sale offering roughly 10,366 sq ft of space. It has been on the market 27 days, fresher than the Richmond Hill average of 59 days.
ATTENTION DEVELOPERS, INVESTORS, BUILDERS & BUSINESS OWNERS! Exceptional Investment & Redevelopment Opportunity in Prime Oak Ridges! Discover a rare opportunity to secure a prominent corner property in the heart of Oak Ridges, offering excellent visibility, strategic positioning, and potential access from both King Road and Hughes Avenue. Designated GC1 (General Commercial) Zoning, the property offers a wide range of permitted commercial uses, including medical and dental clinics, financial institutions, professional offices, veterinary clinics, pet stores, daycare facilities, personal service businesses, laundromats, health centers, photography studios, and more, subject to applicable zoning provisions and municipal approvals. The property currently features an existing bungalow with renovation potential, presenting an opportunity to generate rental or holding income while exploring future commercial development or redevelopment possibilities. A RARE COMBINATION OF LOCATION, EXPOSURE, COMMERCIAL ZONING & LONG-TERM INVESTMENT POTENTIAL! Ideal for developers, investors, entrepreneurs, professionals, and owner-users seeking to capitalize on a strategically located property in the growing Oak Ridges community. Invest Today. Generate Income. Unlock Tomorrow's Potential! Buyer and Buyer's Agent to independently verify zoning, permitted uses, access, redevelopment potential, and all applicable municipal requirements and approvals. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 27 days on market, against an average age of 59 days across the listings currently for sale in this city
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.
This retail in Richmond Hill (Oak Ridges) has been listed for 27 days, which is 32 days fresher than the city average of 59. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $2,425,000, about 19.1× the local median household income of $127,000.
Carrying it typically needs a household income of about $473,687 (20% down, 25-yr amortization, stress-tested) — roughly 273% above the area median.
Source: Statistics Canada, 2021 Census (FSA L4E)
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