Property Details

396 RICHMOND Street, London, Ontario, N6A3C7

396 RICHMOND Street, London, Ontario, N6A3C7 (ID 40364689)
Representative
Sherry Farid portrait
Sherry Farid
Sales Representative, B.A., ABR, ASA
RE/MAX Centre City Realty Inc., Brokerage - REMAXLondon.com
Cell: 519-871-8998
Tel: 519-667-1800

$1,100,000 - For sale

ID#:40364689

Cap rate 7.8%! Prime location in downtown London! Approx 3530 SqFt. Three story building. Main floor approx 1330 Sqft retail used as Richmond Magazine and Variety, successfully running since 1997. The second floor fully renovated in 2011 with three bedroom apartment approx 1100 Sqft. The third level three bedroom unit approx 1100 Sqft. Brand new building added on in 2004. Newer shingle 2013. Currently the owner live on the third floor and run variety store business. The asking price includes the variety business. Suitable for people looking for property to run their business living on the premise. For investor, the potential income: NOI $87,388 per year ( Retail $3500 per month plux $500 of tax/insurance & residential income of 6 bedroom at $760/per room utility inclusive). Call for detail. Zoning DA1 does allow mulitiple commercial usage including restaurants, retail, apartment building, hotel, supermarket, amusement game, art gallery, bake shop, assembly halls, clinics, day care, group house etc. Excellent choice for business owners or investors! (id:2471)

Location DescriptionRichmond & Dundas

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Property Details
  • Property Address:396 RICHMOND Street, London, Ontario, N6A3C7
  • Property Type:Other
  • Title:Freehold
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
  • Access:Road access
Structure Details for 396 RICHMOND Street, London, Ontario, N6A3C7
  • Heating Type:Natural gas, Baseboard heaters, Forced air
  • Style:Detached
  • Storeys:3
  • Basement Type:Crawl space (Unfinished)
  • Cooling Type:Central air conditioning
Amenities for 396 RICHMOND Street, London, Ontario, N6A3C7 High Traffic Area, School Bus
  • Amenities Nearby:Hospital, Public Transit, Shopping
Representative
Sherry Farid portrait
Sherry Farid
Sales Representative, B.A., ABR, ASA
RE/MAX Centre City Realty Inc., Brokerage - REMAXLondon.com
Cell: 519-871-8998
Tel: 519-667-1800
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396 RICHMOND Street, London, Ontario, N6A3C7

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