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344.5 Richmond St

3,560 SF 68% Leased Retail Building London, ON N6A 3C3 $640,613 USD ($180 USD/SF) 6.10% Cap Rate

Retail Space Ontario London 344.5 Richmond St, London, ON N6A 3C3

Investment Highlights

  • Recently upgraded
  • High Traffic Area
  • Prime Location

Executive Summary

Welcome to 344.5 Richmond Street, an exceptional mixed-use investment opportunity offering a compelling 6.1% cap rate at the asking price. This property features two newly renovated one-bedroom residential units, currently vacant, allowing the buyer to select tenants at market rates. A recently vacated commercial unit, ideal for an owner-operator or potential partial conversion into an additional residential unit. The property has undergone significant upgrades, including a brand-new roof (2024), as well as plumbing and electrical enhancements. Each unit is equipped with separate hydro meters and baseboard electric heating, leaving the landlord responsible only for water expenses. Located in a prime downtown area, this property offers exceptional returns and endless potential. Don't miss out on this outstanding investment opportunity!

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,560 SF
Year Built
1987
Price
$640,613 USD
Price Per SF
$180 USD
Cap Rate
6.10%
NOI
$39,077 USD
Percent Leased
68%
Tenancy
Multiple
Building Height
3 Stories
Zoning
DA1
Parking
0.28 Spaces per 1,000 SF Leased
Frontage
19 FT on Richmond St

Amenities

  • Bus Line

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 1,150 SF
  • Retail
  • -
  • Now

Prime Richmond Street Retail/Office/Commercial space For Lease. Located on Richmond Street, just south of King St. Nicely finished space. Great exposure onto Richmond St. Available Space: Approx. 1,150 SF on the Main floor. 1 parking space behind the building comes with the space. Zoning DA1 - permits a wide range of uses, such as, retail, offices, bake shops, personal service establishments, restaurant, studios etc. Building professionally managed & maintained. Large bright windows at the front of the space. Asking $14.00 PSF Net. Additional rent estimate $5.25 PSF. Approx. $1,845 / month + Utilities + HST. Utilities separately metered in Tenant's name. space available Nov 1, 2024. Former Beauty Salon establishment.

Space Size Space Use Position Available
1st Floor 1,150 SF Retail - Now

1st Floor

Size
1,150 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size 1,150 SF
Space Use Retail
Position -
Available Now

Prime Richmond Street Retail/Office/Commercial space For Lease. Located on Richmond Street, just south of King St. Nicely finished space. Great exposure onto Richmond St. Available Space: Approx. 1,150 SF on the Main floor. 1 parking space behind the building comes with the space. Zoning DA1 - permits a wide range of uses, such as, retail, offices, bake shops, personal service establishments, restaurant, studios etc. Building professionally managed & maintained. Large bright windows at the front of the space. Asking $14.00 PSF Net. Additional rent estimate $5.25 PSF. Approx. $1,845 / month + Utilities + HST. Utilities separately metered in Tenant's name. space available Nov 1, 2024. Former Beauty Salon establishment.

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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (73)
Bike Score ®
Very Bikeable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Tim Hortons
The Works Craft Burgers & Beer
RBC Royal Bank
Wild Wing
Mr. Sub
Scotiabank
Moxies
Coffee Culture
Crabby Joes
National Bank Financial
(866) 530-7737

Contact

  • Listing ID: 34344828

  • Date on Market: 1/2/2025

  • Last Updated:

  • Address: 344.5 Richmond St, London, ON N6A 3C3

The Retail Property at 344.5 Richmond St, London, ON N6A 3C3 is currently available for sale. Contact eXp Realty for more information.

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344.5 Richmond St
(866) 530-7737 x

344.5 Richmond St

Andrew Odoardi

(866) 530-7737

(866) 530-7737

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