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$3,950,000
Available - For Sale
Listing ID: X8139764
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 $3,950,000
Taxes: $25,001.62
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
Zoning: BDC(19), D250, H
Category: Retail
Use: Hospitality/Food Related
Building Percentage: Y
Total Area: 36,946.8
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
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CENTURY 21 FIRST CANADIAN CORP

798-812 Dundas St , London, N5W 2Z7, Ontario


 
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Type: Com - Commercial/Retail
Area: Middlesex
Municipality: London
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Lot Size: 166.25 x 204.23(Feet)
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Tax: $25,001.62
Maintenance Fee: $0
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