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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 investment opportunity 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 including Marble Slab, Wok Box, Neads/Wants, and more! The property is ideally located in the heart of Richmond Row, offering strong walking traffic and making it an attractive location for prominent national and local businesses to call home. The residential apartments have an urban loft aesthetic and attract a premium tenant profile. The property currently generates a Net Operating Income of $230,544 which will continue to increase according to built-in escalations of the commercial leases. This opportunity appeals to a prudent investor looking to acquire a stable, well-maintained, high-profile investment with the opportunity 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 |
|---|---|
| MLS Number | :X8283346 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :10 Jul, 2024 (87 Days ago) |
| Source | :TRREB |
| Area | :Middlesex |
|---|---|
| Postal Code | : N6A 3G2 |
| Price | : $3,850,000 |
|---|---|
| Property Taxes | :$50798.86 |
| Tax Year | :2023 |
|---|
| Cross Street | :Albert |
|---|
01 May, 2024
TREB #X8283346
Available
$3850000.0
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