For Sale · Retail

120 - 372 HIGHWAY 7, Richmond Hill (Doncrest)

120 - 372 HIGHWAY 7, Richmond Hill (Doncrest), ON L4B0C6

$478,000 total

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Asset Class

Retail

Size

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Building class

C

Zoning

CB1 — Low Intensity Business

$ / SF

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Occupancy

84%

About this property

Prime ground-floor commercial opportunity at Shops at Royal Gardens, strategically positioned on Highway 7 E in Richmond Hill. This approximately 505 sq. ft. retail/commercial unit offers exceptional street-level exposure in a high-traffic location surrounded by established residential condominiums, retail, restaurants and everyday amenities.The versatile space presents an excellent opportunity for an owner-operator, entrepreneur or investor looking to establish a retail, professional service, personal service or other permitted commercial business. Potential concepts may include boutique retail, beauty or salon services, studio, professional office and other service-oriented businesses, subject to zoning, condominium declaration, licensing and all applicable municipal approvals.Enjoy convenient surface parking directly in front of the unit, plus one private underground parking space. The unit offers excellent visibility and accessibility for both customers and operators, with a strong residential customer base immediately surrounding the property.Ideally located near Bayview Avenue with quick access to Highway 404 and Highway 407, and with Viva/YRT transit conveniently accessible along Highway 7. Surrounded by established residential communities, shops, banks, restaurants and other amenities, this location offers outstanding convenience and exposure.A rare opportunity to own a highly visible ground-floor commercial unit in one of Richmond Hill's established mixed-use communities. Bring your business vision and explore the possibilities at Royal Gardens. (id:66811)

Financial sandbox

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Estimate
Purchase price$478K
Down payment30% · $143K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$23K

Annual cash flow

$-4K

Cash-on-cash

-2.45%

DSCR

0.87

Going-in cap

4.81%

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

124,607

Households

48,158

Median income

$117,000

Median age

35.7

Daytime population

203,322

5-yr growth

2.5%

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

Secure deal room

Confidential diligence documents for 120 - 372 HIGHWAY 7, Richmond Hill (Doncrest).

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.