525 Richmond St, LONDON

$719,000

0 Beds
0 Baths
0 Sqft
.04 Acres
0 Garages

**Lot size: 22,28' x 78.84' x 86.39' x 21.39' R. Mixed use commercial/residential property in the heart of Richmond Row.
Main floor, approx. 1,500 square feet level leased to Top Gun Steak and Burgers for 5 years, lease expiring on January
31, 2024. Main level was completely re-built-kitchen, mechanical equipment, walk-in cooler washrooms, flooring, digital
security cameras. Two 2 bedroom apartments have been updated and are rented at $1,150 and $950 per month plus
50% of hydro. Laundry facilities. Net operating income of $42,822-year 1, $45,222-year 2 and $47,622-years 3-5.
Cap rate increasing from 6% to 6.6% in year 3 at the asking price. Copy of commercial lease and summary of income and
expenses available to interested parties.

Essential Information
MLS® #208517
Price$719,000
Bathrooms0.00
Acres0.04
TypeCommercial
Sub-TypeBuilding and Land
StatusActive
Community Information
Address525 Richmond St
AreaE
CityLONDON
CountyLondon
ProvinceON
Postal CodeN6A 3E8
Amenities
UtilitiesAvailable
Parking Spaces2
Features

Florescent Lights, Laundry Facilities, Storefront

Interior
HeatingForced Air-Gas
Has BasementYes
# of Stories3
Exterior
ExteriorBrick
Exterior FeaturesOther (see remarks)
Lot DescriptionUnder .5 Acre
RoofAsphalt
FoundationBrick
Listing Details
Office

RE/MAX CENTRE CITY REALTY INC., BROKERAGE, INDEPENDENTLY OWNED AND OPERATED

LISTING MAP

Get directions to this property:

Properties for Sale Similar to 525 Richmond St, LONDON, ON

Photo of Listing #227483

357 Southdale Rd, LONDON

$599,000

MLS® # 227483

RE/MAX ADVANTAGE REALTY LTD.
Photo of Listing #220668

344 Richmond St, LONDON

$589,900

MLS® # 220668

PINHEIRO REALTY LTD., BROKERAGE
Photo of Listing #196188

419 Richmond St, LONDON

$699,999

MLS® # 196188

CENTURY 21 FIRST CANADIAN CORP

The data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) program of the Ontario Collective®. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identity the quality of services provided by real estate professionals who are members of CREA. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

Sign up for email updates