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$3,850,000
Status: For Sale
Prime Real Estate is pleased to present 571-575 Richmond Street, an incredible mixed-use investmentopportunity in downtown London, ON. The property consists of six (6) commercial units and eight (8)one-bedroom apartments. The property is fully leased with a great commercial tenant mix includingMarble Slab, Wok Box, Neads/Wants, and more! The property is ideally located in the heart of RichmondRow, offering strong walking traffic and making it an attractive location for prominent national andlocal businesses to call home. The residential apartments have an urban loft aesthetic and attract apremium tenant profile. The property currently generates a Net Operating Income of $230,544 which will continueto increase according to built-in escalations of the commercial leases. This opportunity appeals to aprudent investor looking to acquire a stable, well-maintained, high-profile investment with theopportunity to capitalize on raising rents both residentially and commercially as units turnover.Detailed financials and leases are available upon signing a confidentiality agreement.
| Property Type | :Commercial Sale |
|---|---|
| MLS Number | :40578333 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :28 Jun, 2024 (112 Days ago) |
| Source | :LSTAR |
| Area | :Middlesex |
|---|---|
| City | :London |
| Area Major | :East |
| Area Minor | :East F |
| Postal Code | : N6A 3G2 |
| Directions | :Property is directly across Richmond Street from the new Libro Credit Union branch at Victoria Park in downtown London. |
| Price | : $3,850,000 |
|---|---|
| Property Taxes | :$50798.86 |
| Tax Year | :2023 |
|---|
| Bedrooms | :0 + |
|---|---|
| Place of Worship | :No |
| Cross Street | :Albert |
| Approx Square Footage | :15500 sqft |
|---|
| Parking Space | :0 |
|---|---|
| Basement | :Full |
26 Apr, 2024
TREB #40578333
Listed
$3850000
