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502 Springbank Dr
1,796 SF of Retail Space Available in London, ON N6J 1G8
Highlights
- Versatile Zoning for Multiple Uses.
- Prime Location Along Springbank Drive.
- On-Site Free Parking Available.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 2 | 1,796 SF | 1-10 Years | $10.45 USD/SF/YR $0.87 USD/SF/MO $18,760 USD/YR $1,563 USD/MO | Triple Net (NNN) |
1st Floor, Ste 2
This 1,796 square foot commercial space, located along Springbank Drive, is currently set up as a bakery. It offers direct exposure to the busy Springbank Drive and features prominent signage opportunities. On-site free parking adds to the convenience of this space. With a lease rate of $20.00 per square foot (PSF) net, additional rent at $12.18 PSF, and utilities, this space is versatile and suitable for various business types. The NSA1 zoning allows for a wide range of uses, making it an ideal choice for businesses in the retail, medical, office, and service industries, among others. Don't miss the chance to secure this prime commercial location.
- Lease rate does not include utilities, property expenses or building services
- Partially Built-Out as Standard Retail Space
- Located in-line with other retail
- Central Air Conditioning
- 1,796 SF of Commercial Flexibility.
- Direct Exposure on Springbank Drive.
- Ideal for Various Business Types.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 502 Springbank Dr , London, ON N6J 1G8
| Property Type | Retail | Year Built | 1980 |
| Property Subtype | Freestanding | Parking Ratio | 3.1/1,000 SF |
| Gross Leasable Area | 12,868 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 12,868 SF |
| Year Built | 1980 |
| Parking Ratio | 3.1/1,000 SF |
About the Property
Here's a prime opportunity to lease commercial space along the bustling Springbank Drive, just east of Berkshire Drive and Wonderland Road South. This location offers 1,796 square feet of space on the main floor and is currently set up as a bakery. Enjoy direct exposure and prominent signage along Springbank Drive, with the added convenience of on-site free parking. The lease rate is $20.00 per square foot (PSF) net, with additional rent at $12.18 PSF plus utilities. Zoned NSA1, this property permits a wide range of uses, including bake shops, restaurants, retail, medical/dental offices, clinics, financial institutions, hair/nail salons, general offices, studios, convenience stores, home supply stores, service and repair businesses, and more.
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502 Springbank Dr
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