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Business For Sale · Retail

685 RICHMOND STREET, London East (East F)

685 RICHMOND STREET, London East (East F), ON N6A5M1

$585,000 total

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Asset Class

Retail

Size

—

Building class

C

Zoning

CSC — Shopping Centre

$ / SF

—

Occupancy

87%

About this property

Excellent opportunity to own an established Filthy Philly franchise at 685 Richmond Street, London, Ontario, ideally located in the vibrant downtown area. This established business generates annual sales of over $550,000 and offers an excellent opportunity for an owner-operator or investor. Attractive lease terms with approximately 10 years remaining plus an additional 10-year renewal option. Monthly rent is approximately $6,300 including TMI. Benefit from an established franchise brand with $0 marketing cost, providing ongoing brand exposure and support. Excellent location with seating capacity of 40 inside 40 patio, surrounded by residential, commercial, entertainment and student activity with strong pedestrian and vehicle traffic. A great opportunity to acquire an established food business with long-term lease security in one of London's active commercial areas. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$585K
Down payment30% · $176K
Interest rate6.25%
Amortization25 years
Occupancy87%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$28K

Annual cash flow

$-4K

Cash-on-cash

-2.33%

DSCR

0.87

Going-in cap

4.84%

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

65,150

Households

28,652

Median income

$63,500

Median age

35.6

Daytime population

70,323

5-yr growth

2.6%

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

Secure deal room

Confidential diligence documents for 685 RICHMOND STREET, London East (East F).

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.