83 Dunlop St
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83 Dunlop St
7,742 SF Retail Building Richmond Hill, ON L4C 2M6 $5,800,000 CAD ($749 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Access to Transit
- Neighbouring a park
- Signage
EXECUTIVE SUMMARY
Incredible Investment Opportunity In Prime Location Of Downtown Richmond Hill, Crosby Community. Perfectly Shaped Lot, Approximately 0.90 Acres With A 6,000 Square Foot Building Close To Yonge Street. The Property Has Many Permitted Uses And It Surrounded By Apartment Buildings, Detached Homes, Townhomes, Public Parks, Restaurants, Retail Establishments, Churches, Community Services, Shopping Plazas, Schools And Public Transportation. Walking Distance To Yonge Street And All Public Amenities. Great Re-Development Potential For Multi-Residential/Townhouses Or Multi-Storey Development With Premium Lot Potential. The Property Is Currently Zoned (Neighbourhood) Residential And Used As A Legal Day Care Business For The Past 28+ Years With By-Law Amendment. 146 Licensed Spaces. The Building Is In Good Condition And Can Be Used For Many Different Businesses Or Leased To Any Commercial/Retail/Institutional Uses. Large Gym Area And Day Care/Class Rooms. Current Tenant Is ""Cuties & Patooties Daycare"" And Will Not Stay On After Closing. Excellent Investment Property To Rent And Generate Cash Flow While Awaiting Re-Development Application. **** EXTRAS **** Fridge, Stove, Dishwasher, Electric Furnace, Hot Water Tank, Fire Alarm System, Electric Light Fixtures & Building All In ""As Is Condition"" New Roof (2-3 Years) And Some Windows Replaced In 2017.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Day Care Center
Building Size
7,742 SF
Building Class
C
Year Built
1954
Price
$5,800,000 CAD
Price Per SF
$749 CAD
Cap Rate
5%
NOI
$290,000 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.89 AC
Zoning
R2 - Residential
Parking
5 Spaces (0.73 Spaces per 1,000 SF Leased)
Frontage
174 ft on Dunlop Street
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
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83 Dunlop St
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