London & Area Real Estate Listings
571 - 575 Richmond Street
London, ON, N6A 3G2
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 Specification
MLS Number | 40578333 |
Property Type | Commercial Sale |
Building Area | 15,500 Square Feet |
Basement | Full |
Lot Size Area | 0 Acres |
Lot Size | 6,316 Sq.ft. |
Lot Size Source | GeoWarehouse |
Parking Spaces | 0 |
Sewage | Sewer (Municipal) |
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Disclaimer
These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.
Listing courtesy of: PRIME REAL ESTATE BROKERAGE