Business For Sale · Retail

346 RICHMOND STREET, London East (East K)

346 RICHMOND STREET, London East (East K), ON N6A3C3

$135,900 total

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Asset Class

Retail

Size

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Building class

C

Zoning

CSC — Shopping Centre

$ / SF

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Occupancy

100%

About this property

Excellent opportunity to own a turnkey restaurant business in the heart of Downtown London! The RedBox, a Desi-Street Style Indian-Chinese restaurant, this well-equipped establishment is prominently located near the busy intersection of Richmond Street and York Street, offering excellent visibility and convenient access.The versatile space is well suited for dine-in, takeout, delivery and catering operations, with the flexibility to continue the existing concept or introduce a new food business. The sale includes essential restaurant equipment and chattels, providing an excellent opportunity for an experienced restaurateur or first-time business owner. The restaurant offers seating capacity for approximately 40 guests. The kitchen features a good-sized commercial exhaust hood, spacious walk-in cooler and equipment to support an active food-service operation. Two washrooms are also available.Conveniently located minutes from VIA Rail, Fanshawe College's Downtown Campus, Victoria Park and with easy access to Western University, the location benefits from Downtown London's residential, student, commuter and business activity. A new five-year lease renewal option is available, providing added stability for the next operator. Owner training can also be provided if required. Turnkey restaurant opportunity in a high-visibility Downtown location - bring your concept and make it your own! Please contact me for any more information or to schedule a visit. ** Some items were removed from the kitchen/shelves for the purpose of the picture taken. (id:66811)

Financial sandbox

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Estimate
Purchase price$136K
Down payment30% · $41K
Interest rate6.25%
Amortization25 years
Occupancy100%
Expense growth2.5%

Monthly debt service

$628

Projected NOI

$9K

Annual cash flow

$2K

Cash-on-cash

4.52%

DSCR

1.24

Going-in cap

6.90%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

92,495

Households

42,551

Median income

$106,000

Median age

45.3

Daytime population

97,246

5-yr growth

5.8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 346 RICHMOND STREET, London East (East K).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.