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Type: Commercial/Retail
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Property Type: Commercial
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Business Type: Retail Store Related
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Zoning: BDC
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Age: No Data
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Taxes: 5541.51
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MLS®#: X11948065
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Added: Jan 30, 2025 (2 days ago)
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Updated:
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Last Checked: 2 hours ago
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Listed By: RARE REAL ESTATE
FULLY VACANT, Mixed-Use, 2-Storey Brick, Commercial/Residential Building in London's Old East Village. BDC Zoning allowing plenty of uses. Excellent opportunity to invest in the future of a revitalized downtown London. Currently containing 2 commercial units (street level) previous office area, board room, 2-pc washroom, as well as a previous barbershop with open retail area, small office, and 2-pc washroom. Also 4 residential units (first and second levels), one (1) x bachelor and three (3) x 2-bedroom apartments, and an unfinished basement for storage and mechanical area. Approximately 3500 sqft on a massive 33 x 203 ft lot in Downtown London with a total of 6,729 sqft. This site has been approved by the City for the up to SIX (6) residential units. The Four (4) current residential units have been gutted and ready for full renovation to force appreciation. City of London has also deemed this site as eligible for the financial incentives for the redevelopment of Old East Village including the following: Facade Improvement Loan, Upgrade to Building Code Loan, Rehab & Redevelopment Tax Grant, and the Combined Tax Grant & Residential Development Charges Grant. Fantastic opportunity to buy and hold or immediately get to work and take advantage of the City of London's financial incentives to achieve the highest and best use with room to renovate 2 commercial retail/office space and a full renovation of the existing and additional residential units. Such a lot size within the City is also unique and rare for future development opportunities. Positioned for maximum visibility, accessibility, and character, this property enjoys a highly convenient location near Downtown, shopping districts, public transit hubs, the Western Fair District, and offers swift access to Highway 401. Fully Vacant and ready to close.
Property
Status: Sale
Type: Retail Store Related
Property Type: Commercial/Retail
Property Type: Multi-Use
Area: London
Community: East G
Availability Date: Immediate
Inside
Air Conditioning: Part
Utilities
Utilities: Available
Building
Basement: Y
Heat Type: Gas Forced Air Open
Elevator: None
Freestanding: Y
Water Supply: Municipal
Amps: 100
Parking
Garage Type: None
Fees
Tax Year: 2024
Taxes: $5,542
Taxes Type: Annual
Land
Cross Street: Dundas St & English
Municipality District: London
Parcel Number: 082820195
Sewer: San+Storm
Lot Depth: 204.14 Feet
Lot Frontage: 33.19 Feet
Zoning: BDC
Commercial Specific
Retail Area: 940
Retail Area Metric: Sq Ft
Sprinklers: Part
Total Area: 3485
Total Area Metric: Sq Ft
Area Influence: Public Transit
Area Influence: Rec Centre
Lot Code: Building
Aberdeen Public School
Elementary: PublicSt Mary School
Elementary: CatholicEast Carling Public School
Elementary: PublicLester B Pearson School for the Arts
Elementary: PublicSt. John French Immersion School
Elementary: CatholicLord Roberts Public School
Elementary: PublicG A Wheable Secondary School
Secondary: PublicThames Valley Alternative Secondary School
Secondary: PublicB Davison Secondary School Secondary School
Secondary: PublicLondon Central Secondary School
Secondary: PublicCatholic Central High School
Secondary: CatholicH B Beal Secondary School
Secondary: Public
