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Business For Sale · Office

587 LAMBTON STREET, London East (East B)

587 LAMBTON STREET, London East (East B), ON N5Y4G1

$864,900 total

2,330.38 SF

Asset Class

Office

Size

2,330.38 SF

Building class

A

Zoning

CB2 — Central Business

$ / SF

$371

Occupancy

95%

About this property

LOCATED AT ADELAIDE / LAMBTON. HIGH TRAFFIC COUNT. Rare freehold mixed-use opportunity with income, office space and exceptional flexibility. Located in London, this OC5/R2-2 property combines an established main-floor office configuration with a separately rented 2-bedroom residential apartment above. The main level features two flexible office spaces, kitchenette and 2-piece bathroom, providing an excellent setup for an owner-user, professional office or service-based business. The upper apartment offers 2 bedrooms, full bathroom, updated kitchen finishes and refinished hardwood flooring, providing a residential component. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. 8 on-site parking spaces add significant value for both business and residential users. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$865K
Down payment30% · $259K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$59K

Annual cash flow

$11K

Cash-on-cash

4.19%

DSCR

1.23

Going-in cap

6.80%

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.

Rent roll (estimated)

TenantAreaExpiry
Blue Harbour Design1,440 SF2029-09
Blue Harbour Design503 SF2029-09
Cascade Foods Inc.400 SF2029-09

Area demographics

Trade area within 3 miles of the property.

Population

46,404

Households

18,771

Median income

$90,000

Median age

45.1

Daytime population

63,223

5-yr growth

1.6%

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

Secure deal room

Confidential diligence documents for 587 LAMBTON STREET, London East (East B).

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.