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:47421)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Total Area
15,500 ft2
Amenities Nearby
Public Transit, Hospital
Listing Contract Date
2024-04-26
Property Type
Business
Transaction Type
For sale
Building
Basement Type
Full
Exterior Finish
Wood, Brick
Fireplace Present
Yes
Utility Water
Municipal water
Land
Total Size
Unit=72 Acre | under 1/2 acre
Amenities
Public Transit, Hospital
Sewer
Sanitary sewer
Size of Irregular Land
Unit=72 Acre
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