398 Richmond Street

London, N6A 3C7

Interior: 3,203 ft²
Lot: 24.05 × 54.51 ft
Type: Commercial Retail
On the market: 66 days

Compare 398 Richmond Street

About this home

ONE PROPERTY. MULTIPLE INCOME STREAMS. PRIME DOWNTOWN LOCATION. An opportunity designed to get an investor's attention. This three-storey mixed-use property is ideally positioned just steps from Fanshawe College, Dundas Place, Budweiser Gardens, and Covent Garden Market, offering exceptional visibility, foot traffic, and long-term potential. The 1,330 sq. ft. main-floor commercial space is home to a well-established convenience store, successfully owner-operated since 1997, with strong goodwill and a loyal customer base. The business is listed separately and may be purchased with the building for the right buyer. Above are two spacious 3-bedroom residential units of approximately 1,093 sq. ft. and 963 sq. ft., providing additional rental income potential. With zoning allowing uses including retail, café, restaurant, bar, and personal services, the possibilities are broad. Three floors. Multiple revenue streams. One prime downtown address. Whether you're looking to maximize rental income, operate a business, or build a flexible investment portfolio, this property gives you the opportunity to do it all under one roof.

Property details

MLS® number: X13660732
Property type

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Commercial Retail

Interior size

3,203 ft²

Lot

24.05 × 54.51 ft

Heating

Gas Forced Air Closed

Cooling

Yes

Property taxes: $9,787 (2025)
Possession: Flexible
Cross street: Richmond and Dundas
Municipality: London

What it could cost each month

Mortgage estimate

$3,919a month

$177,000 down, 4.5%, 25 years

Down payment

7.2%10%20%

Interest rate

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An estimate, not a quote. Under 20% down, the mortgage default insurance premium is added to the loan.

Location

London, near Richmond and Dundas

398 Richmond Street, London

Map data © OpenStreetMap contributors, tiles by OpenFreeMap.

Listing courtesy of ROYAL LEPAGE TRILAND REALTY.

Listed on the MLS® System of the London and St. Thomas Association of REALTORS. MLS® number X13660732. Measurements are approximate.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Listing data provided under copyright by the London and St. Thomas Association of REALTORS® and other participating boards via PropTx Amplify Syndication. Information is deemed reliable but not guaranteed accurate.

Robert Georgopoulos and George Georgopoulos are Sales Representatives with RE/MAX Advantage Realty Ltd., Brokerage. Each office independently owned and operated.

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