For Lease · Retail

53 OBSERVATORY LANE, Richmond Hill (Observatory)

53 OBSERVATORY LANE, Richmond Hill (Observatory), ON L4C8K9

$20 per sq ft / yr

4,305.5 SF

Asset Class

Retail

Size

4,305.5 SF

Building class

B

Zoning

CSC — Shopping Centre

$ / SF

$0

Occupancy

97%

About this property

HIGH CEILINGS. BIG POSSIBILITIES. YOUR NEXT FITNESS, DANCE OR EDUCATION DESTINATION! Discover approx. 4,305 sq. ft. of commercial space in the heart of Downtown Richmond Hill, offering an exciting opportunity to establish a distinctive business in an excellent location. The standout feature is the impressive HIGH CEILINGS, creating a spacious, uplifting atmosphere that brings an entirely different dimension to the customer experience. For operators envisioning an energetic fitness centre, boutique gym, dance academy or inspiring learning environment, this space deserves a closer look. Imagine group fitness classes, personal training, yoga, Pilates, martial arts, dance instruction, tutoring or educational programs, subject to zoning, landlord consent and required approvals. The generous floor area offers scope to explore training, teaching and activity zones tailored to your concept, subject to the existing layout and any necessary alterations. TEN ALLOCATED PARKING SPACES, together with visitor parking availability, add everyday convenience for members, students, instructors and guests. A compelling combination of size, ceiling height, parking and location for operators ready to grow their brand or introduce a fresh concept to Richmond Hill. Net Rent: $20.00/sq. ft./year. TMI: $12.00/sq. ft./year. Combined quoted rate: $32.00/sq. ft./year, plus HST, utilities and other applicable charges. Bring your vision, explore the possibilities and experience the impact of these high ceilings in person. BOOK YOUR PRIVATE SHOWING! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$20
Down payment30% · $6
Interest rate6.25%
Amortization25 years
Occupancy97%
Expense growth2.5%

Monthly debt service

$0

Projected NOI

$1

Annual cash flow

$-0

Cash-on-cash

-2.30%

DSCR

0.88

Going-in cap

4.85%

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
Northbridge Logistics1,537 SF2033-04
Meridian Health Group977 SF2033-04
Northbridge Logistics1,671 SF2033-04

Area demographics

Trade area within 3 miles of the property.

Population

60,252

Households

22,511

Median income

$120,000

Median age

32.2

Daytime population

95,410

5-yr growth

5.4%

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

Secure deal room

Confidential diligence documents for 53 OBSERVATORY LANE, Richmond Hill (Observatory).

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.