Investment opportunity in the heart of East London's bustling commercial district. Positioned east of downtown, this prime redevelopment site offers the potential for high-rise apartment buildings. Boasting close proximity to an array of locally-owned shops, eclectic restaurants, and cultural landmarks. The proposed site plan, complete with city feedback, outlines the possibility of two 6-storey buildings, reflecting the exciting vision for development. Current zoning density allows for up to 250 units per hectare, with the opportunity for further density increases through a zoning amendment. Recent changes eliminating parking requirements for new residential developments along Dundas Street streamline the process, enhancing the project's feasibility. Phase 2 environmental assessment completed. Currently leased to two tenants, the property offers immediate rental income, providing a steady cashflow while awaiting redevelopment. |
Extras: See Brochure package in documents for site details. Documents also include proposed site plan and elevation drawings |
Price | $2,995,000 |
Taxes: | $25001.62 |
Tax Type: | Annual |
Occupancy by: | Tenant |
Address: | 798-812 Dundas St , London, N5W 2Z7, Ontario |
Postal Code: | N5W 2Z7 |
Province/State: | Ontario |
Legal Description: | PLAN 304 BLK M LOTS 8 AND 9 AND 28 |
Lot Size: | 166.25 x 204.23 (Feet) |
Directions/Cross Streets: | Rectory |
Category: | Retail |
Use: | Hospitality/Food Related |
Building Percentage: | Y |
Total Area: | 36946.80 |
Total Area Code: | Sq Ft |
Office/Appartment Area: | 3090 |
Office/Appartment Area Code: | Sq Ft |
Retail Area: | 4610 |
Retail Area Code: | Sq Ft |
Area Influences: | Public Transit Rec Centre |
Financial Statement: | Y |
Chattels: | N |
Franchise: | N |
Days Open: | V |
LLBO: | N |
Insurance Expense: | $6800 |
Gross Income/Sales: | $93553 |
Year Expenses: | 2023 |
Expenses Actual/Estimated: | $Act |
Sprinklers: | N |
# Trailer Parking Spots: | 0 |
Outside Storage: | N |
Rail: | N |
Crane: | N |
Soil Test: | Envirn Audit |
Heat Type: | Gas Forced Air Closd |
Central Air Conditioning: | Y |
Elevator Lift: | None |
Sewers: | San+Storm |
Water: | Municipal |
Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
CENTURY 21 FIRST CANADIAN CORP |
|
Book Showing | Email a Friend |
Type: | Com - Commercial/Retail |
Area: | Middlesex |
Municipality: | London |
Lot Size: | 166.25 x 204.23(Feet) |
Tax: | $25,001.62 |