395 RED MAPLE ROAD, Richmond Hill (Langstaff)

$3,888,000

For sale: Other

Other at 395 RED MAPLE ROAD, Richmond Hill (Langstaff)
Property type
Industrial
MLS®
MLS® N14131366
Neighbourhood
Langstaff

Exceptional opportunity to acquire a well-maintained, income-producing automotive service property in a highly sought-after Richmond Hill location. Situated on the east side of Red Maple Road, approximately 125 metres north of 16th Avenue, and just off Yonge Street, this property occupies a 0.573-acre site and offers excellent connectivity to Highway 404, Highway 407 ETR, Yonge Street and Highway 7. The approximately 8,230 sq. ft. building features four individually leased units ranging from approximately 1,000 to 3,500 sq. ft. All units except Unit 3 include a small office. Currently generating approximately $180,000 in gross annual rental income, the property benefits from four established tenants, primarily operating automotive-related businesses, with a strong interest in remaining and pursuing long-term lease arrangements. Designed for functionality and flexibility, each unit has its own gas meter, while three hydro meters serve the building: Units 3 and 4 are separately metered, and Units 1 and 2 share a meter. Interconnecting doors between units offer potential flexibility for larger configurations, subject to existing leases and required approvals. Automotive-use properties in this central Richmond Hill location are increasingly difficult to find. Whether you are an investor seeking established rental income or an automotive business owner looking to occupy your own premises while generating income from the remaining units, this property presents a compelling opportunity to build equity and explore future use potential. A recent environmental assessment has also been completed by the owner, providing a valuable starting point for purchaser due diligence. Buyers are encouraged to conduct their own due diligence regarding zoning, existing legal non-conforming uses, environmental matters, leases, rental income and future use potential. Most of the ceiling height is 16 feet, but it varies.

Sold data

Homes in Langstaff — recent sold market

Homes in Langstaff took a median of 29 days to sell over the last 90 days, with the quickest quarter selling within 17 days and the slowest quarter taking more than 46, across 53 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 52 days.

The median sale price was $599,999.

Homes sold for about 4.1% below asking on average, so there was room to negotiate.

About 23% of sales closed above the list price.

Around 11% of sellers reduced their price before finding a buyer.

Median days to sell
29
Median sale price
$599,999
Sale-to-list ratio
95.9%
Sold above asking
23%

Based on 53 recorded sales in the last 90 days — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Richmond Hill (Langstaff)

Richmond Hill (Langstaff) has 43 Fraser Institute–rated schools (35 elementary and 8 secondary), averaging 7.5/10.

Rated schools
43
Elementary
35
Secondary
8
Average rating
7.5 / 10

Top-rated schools in Richmond Hill (Langstaff)

  • Corpus Christi — elementary, Richmond HillFraser rating 10.0/10
  • St. Therese of Lisieux — secondary, Richmond HillFraser rating 10.0/10
  • Silver Stream — elementary, Richmond HillFraser rating 9.3/10
  • St Charles Garnier — elementary, Richmond HillFraser rating 9.3/10
  • Bayview — secondary, Richmond HillFraser rating 9.2/10
  • Father Henri J M Nouwen — elementary, Richmond HillFraser rating 9.2/10

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

Currently for sale

Homes for sale near 395 RED MAPLE ROAD