346 RICHMOND STREET, London East (East K)

$135,900

For sale: Other

Other at 346 RICHMOND STREET, London East (East K)
Property type
Sale Of Business
MLS®
MLS® X13827246
Neighbourhood
East K

Excellent opportunity to own a turnkey restaurant business in the heart of Downtown London! The RedBox, a Desi-Street Style Indian-Chinese restaurant, this well-equipped establishment is prominently located near the busy intersection of Richmond Street and York Street, offering excellent visibility and convenient access.The versatile space is well suited for dine-in, takeout, delivery and catering operations, with the flexibility to continue the existing concept or introduce a new food business. The sale includes essential restaurant equipment and chattels, providing an excellent opportunity for an experienced restaurateur or first-time business owner. The restaurant offers seating capacity for approximately 40 guests. The kitchen features a good-sized commercial exhaust hood, spacious walk-in cooler and equipment to support an active food-service operation. Two washrooms are also available.Conveniently located minutes from VIA Rail, Fanshawe College's Downtown Campus, Victoria Park and with easy access to Western University, the location benefits from Downtown London's residential, student, commuter and business activity. A new five-year lease renewal option is available, providing added stability for the next operator. Owner training can also be provided if required. Turnkey restaurant opportunity in a high-visibility Downtown location - bring your concept and make it your own! Please contact me for any more information or to schedule a visit. ** Some items were removed from the kitchen/shelves for the purpose of the picture taken.

Sold data

Other homes in London East (East K) — recent sold market

Other homes in London East (East K) took a median of 21 days to sell over the last 730 days, with the quickest quarter selling within 13 days and the slowest quarter taking more than 62, across 31 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 50 days.

The median sale price was $575,000.

Homes sold for about 2.2% below asking on average, so there was room to negotiate.

About 19% of sales closed above the list price.

Around 23% of sellers reduced their price before finding a buyer.

Median days to sell
21
Median sale price
$575,000
Sale-to-list ratio
97.8%
Sold above asking
19%

Based on 31 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in London East (East K)

London East (East K) has 116 Fraser Institute–rated schools (97 elementary and 19 secondary), averaging 5.5/10.

Rated schools
116
Elementary
97
Secondary
19
Average rating
5.5 / 10

Top-rated schools in London East (East K)

  • John Dearness — elementary, LondonFraser rating 9.8/10
  • St George — elementary, LondonFraser rating 9.1/10
  • Jack Chambers — elementary, LondonFraser rating 8.8/10
  • Sir Arthur Currie — elementary, LondonFraser rating 8.8/10
  • London Central — secondary, LondonFraser rating 8.7/10
  • Ryerson — elementary, LondonFraser rating 8.7/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 346 RICHMOND STREET