396 RICHMOND Street, London, Ontario, N6A3C7

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For sale, ID#: 40364689
396 RICHMOND Street
London Ontario
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0 Beds
0 Bath
$1,100,000

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)

Representatives
Michelle O'Brien and Mike Murray Broker and Sales Representative
BLUE FOREST REALTY INC.
Property Details
  • Property Address: 396 RICHMOND Street, London, Ontario, N6A3C7
  • Property Type: Other
  • Zoning Description: DA1
  • Title: Freehold
  • Sewage Type: Municipal sewage system
  • Water Type: Municipal water
  • Access: Road access
  • Amenities Nearby: Hospital, Public Transit, Shopping
Structure Details
  • Style: Detached
  • Storeys: 3
  • Basement Type: Crawl space (Unfinished)
  • Heating Type: Natural gas, Baseboard heaters, Forced air
  • Cooling: Central air conditioning
Amenities / Features
  • High Traffic Area
  • School Bus
Neighbourhood Information

Listing Offices: SUTTON - JIE DAN REALTY BROKERAGE

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396 RICHMOND Street, London, Ontario, N6A3C7

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