Space
Finished area and layout
- Building Area
- 3,560 sqft
+26 more
3,560 sqft
Building Area
20 x 97.31 ft
Lot
Property Snapshot
Key details for this listing
Property
Type, style and structure
- Type
- commercial
- Style
- investment / Mixed Use
Lot
Land, frontage and setting
- Lot
- 20 x 97.31 ft
- Frontage
- 20 ft
- Depth
About This Property
This investment in London East offers 3,560 sqft of building area on a 20 x 97.31 ft lot. The property has cross street Located directly on Richmond Street, just south of King St and just north of York St., zoned DA1. The home features yes.
MLS Remarks
Prime Mixed-use Commercial / Residential Investment opportunity in London. Opportunity to acquire mixed-use commercial/residential property in the heart of downtown London, just steps from Covent Garden Market and Canada Life Place. This property offers exceptional returns and endless potential. Based on the current projected Net Income, the property is offering a compelling 7.5% + cap rate at the current asking price with potential for higher Income. Projected Gross Income: Approx. Over $78,232 per year. Projected Net Income: $60,070 per year. This 3 Storey building has a commercial unit on the main floor, with 4 - One Bedroom Residential units on the upper floors. The property features Two newly renovated One-Bedroom residential units, currently vacant, ready for occupancy, which allows the buyer to select tenants at market rates and a recently tenanted commercial unit on a 4-year lease term with guarantees. The property has undergone significant upgrades, including a brand-new roof (2024), as well as plumbing and electrical enhancements. The Main floor commercial cafe was completely updated and renovated. Each unit is equipped with separate hydro meters and baseboard electric heating, leaving the landlord responsible only for water expenses. Total Building Area: Approx. 3,560 SF - 3 Storey building. Main Floor 1,150 SF - Commercial Unit - Cafe. The cafe tenant has invested over approx. $150,000 in renovations in the unit. New Improved Asking Price: $799,999. Site Area: 0.045 acres. Zoning: DA1 - Permits a wide range of uses.
Full Listing Details
Address344.5 Richmond Street, London East, ON N6A 3C3
MLS#X13810646
Listing StatusNew
Property TypeCommercial
Sub-TypeInvestment
TransactionSale
List DateSep 21, 2026
Days on Market34
Annual Tax$6,874 (2025)
Parking0 garage
Possession DetailsFlexible
StyleMixed Use
CityLondon East
NeighbourhoodEast K
ProvinceOn
Postal CodeN6A 3C3
CountyMiddlesex
Cross StreetLocated directly on Richmond Street, just south of King St and just north of York St.
Lot Size0 sqft
Lot ShapeRectangular
Frontage20 ft
Lot Depth97.31 ft
ZoningDA1
Garage Spaces0
Garage TypeNone
CoolingYes
SecurityNo
UtilitiesYes
SewerSanitary
WaterMunicipal
Annual Tax$6,874 (2025)
Business TypeApts - 2 To 5 Units
Located directly on Richmond Street, just south of King St and just north of York St.
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