571 - 575 Richmond Street London, Ontario - MLS#: X8283346
$3,850,000
Prime Real Estate is pleased to present 571-575 Richmond Street, an incredible mixed-use investment\r\nopportunity in downtown London, ON. The property consists of six (6) commercial units and eight (8)\r\none-bedroom apartments. The property is fully leased with a great commercial tenant mix including\r\nMarble Slab, Wok Box, Neads/Wants, and more! The property is ideally located in the heart of Richmond\r\nRow, offering strong walking traffic and making it an attractive location for prominent national and\r\nlocal businesses to call home. The residential apartments have an urban loft aesthetic and attract a\r\npremium tenant profile. The property currently generates a Net Operating Income of $230,544 which will continue\r\nto increase according to built-in escalations of the commercial leases. This opportunity appeals to a\r\nprudent investor looking to acquire a stable, well-maintained, high-profile investment with the\r\nopportunity to capitalize on raising rents both residentially and commercially as units turnover.\r\nDetailed financials and leases are available upon signing a confidentiality agreement. (id:51158)
MLS: X8283346 For sale : 571 – 575 RICHMOND ST 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. (id:51158)
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Property Details
| MLS® Number | X8283346 |
| Property Type | Business |
| Community Name | EastF |
| Amenities Near By | Public Transit, Hospital |
About 571 - 575 Richmond Street, London, Ontario
Building
| Basement Type | Full |
| Exterior Finish | Wood, Brick |
| Fireplace Present | Yes |
| Size Interior | 15500 Sqft |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Public Transit, Hospital |
| Sewer | Sanitary Sewer |
| Size Irregular | Unit=72 Acre |
| Size Total Text | Unit=72 Acre|under 1/2 Acre |
https://www.realtor.ca/real-estate/26829987/571-575-richmond-street-london-eastf
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May 14 2024 05:45:41
Toronto Real Estate Board
Prime Real Estate Brokerage