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571 - 575 RICHMOND STREET, London, Ontario, N6A 3G2

MLS® # X8283346
Commercial For Sale In Central London, London, Ontario
$3,850,000
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
571 - 575 Richmond Street, London, ON
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ACTIVE
571 - 575 RICHMOND STREET, London, Ontario, N6A 3G2
$3,850,000

Property Information:

Prime Real Estate is pleased to present 571-575 Richmond Street, an incredible mixed-use investment\r\nopportunity in downtown London, ON. The property consists of six (6) commercial units and eight (8)\r\none-bedroom apartments. The property is fully leased with a great commercial tenant mix including\r\nMarble Slab, Wok Box, Neads/Wants, and more! The property is ideally located in the heart of Richmond\r\nRow, offering strong walking traffic and making it an attractive location for prominent national and\r\nlocal businesses to call home. The residential apartments have an urban loft aesthetic and attract a\r\npremium tenant profile. The property currently generates a Net Operating Income of $230,544 which will continue\r\nto increase according to built-in escalations of the commercial leases. This opportunity appeals to a\r\nprudent investor looking to acquire a stable, well-maintained, high-profile investment with the\r\nopportunity to capitalize on raising rents both residentially and commercially as units turnover.\r\nDetailed financials and leases are available upon signing a confidentiality agreement. (id:27)

Building Features:

  • Style: Business
  • Basement Type: Full
  • Exterior Finish: Wood, Brick

Property Features:

  • Property Type: Business
  • Amenities Nearby: Public Transit, Hospital
  • Irregular: Yes
  • Lot Frontage: 72.0 Feet
  • Lot Size: Unit=72 Acre
  • Zoning: BDC(1)
  • Sewer: Sanitary sewer

Courtesy of: PRIME REAL ESTATE BROKERAGE

REALTOR.ca  

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Market Price Trends

1 year changes compare the same month from the previous year. Find an agent in this area to receive more information.

Location of 571 - 575 RICHMOND STREET, London, Ontario, N6A 3G2

Climate Risk Data

About Climate Risk: Properties are at increased risk of damage from extreme weather due to climate change.
ClimateCheck provides detailed climate risk data for properties now and up to 30 years into the future.

Projected Heat Risk: High

34 hot days expected in 2050

Projected Storm Risk: Very High

14 storms expected in 2050

Projected Heat Risk: High

34 hot days expected in 2050

54/100

High

ClimateCheck®

Current data

This property, 571 - 575 RICHMOND STREET , experiences 7 hot days per year at around 31 degrees Celsius.

Projected data

Severe heat risk is expected to increase in this area. In 2050, it is projected that there will be 34 hot days at 34.5 degrees Celsius.

Projected Avg. Temperature

Past
31℃
2050
34.5℃

# Hot Days Per Year

Past
7
2050
34

About Heat Risk

Heat risk is the number of extreme heat days experienced each year looking at historical conditions (1980-2005) in your area and taking the 2% of the hottest days and projecting that into the future.

Projected Storm Risk:

14 storms expected in 2050

63/100

ClimateCheck®

Current data

This property, 571 - 575 RICHMOND STREET , experiences 11 significant 2-day storms per year, with about 328.2mm of precipitation per storm.

Projected data

Severe storms are expected to increase in this area. In 2050, it is projected that there will be 14 significant 2-day storms with 402.9mm of precipitation per year.

Precipitation Per Storm

Past
328.2mm
2050
402.9mm

48-Hour Storms Per Year

Past
11
2050
14

About Storm Risk

Storm risk is the number of high wind, wet or snowy events each year. Climate check looks at historical conditions (1980-2005) in your area, on the days with the top 1% of total precipitation in a year and projected to 2050.

Climate risk data is provided for informational purposes only on Royallepage.ca.
If you have questions or feedback about this data, get help at climatecheck.com.

Environmental Risks provided by ClimateCheck®

Royal LePage does not endorse nor guarantee this information. By providing this information, Royal LePage and its agents are not providing advice or guidance on climate risks. Royal LePage strongly recommends that consumers independently investigate the property’s climate risks to their own personal satisfaction.

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Demographic Information of 571 - 575 RICHMOND STREET, London, Ontario, N6A 3G2

Life Stage

Later Years

Employment Type

Service Sector

Average Household Income

$102,132.51

Average Number of Children

1.35

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

10.18 %

High school certificate or equivalent

23.54 %

Apprenticeship trade certificate/diploma

4.59 %

College/non-university certificate

23.47 %

University certificate (below bachelor)

3.03 %

University Degree

35.2 %

Commuter

Travel To Work

By Car

57.32 %

By Public Transit

17.05 %

By Walking

20.81 %

By Bicycle

1.31 %

By Other Methods

3.51 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

97.56 %

Houses

2.44 %

Own Vs. Rent

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