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396 Richmond Street London, Ontario N6A 3C7

Central Air Conditioning Baseboard Heaters, Forced Air


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:20872)


Name Richmond Magazine & Variety

Property Details

MLS® Number 40364689
Property Type Other
Amenities Near By Hospital, Public Transit, Shopping
Community Features High Traffic Area, School Bus


Basement Development Unfinished
Basement Type Crawl Space (unfinished)
Construction Style Attachment Detached
Cooling Type Central Air Conditioning
Heating Fuel Natural Gas
Heating Type Baseboard Heaters, Forced Air
Stories Total 3
Size Exterior 3400.0000
Utility Water Municipal Water


Access Type Road Access
Acreage No
Land Amenities Hospital, Public Transit, Shopping
Sewer Municipal Sewage System
Size Depth 55 Ft
Size Frontage 24 Ft
Zoning Description Da1


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