398 Richmond Street

About This Property

An opportunity like this doesn't come around often. Own the building and the business in one of the city's most dynamic, high traffic locations offered as the current owner prepares for retirement after decades of success. Perfectly positioned just steps from Fanshawe College, Dundas Place, Budweiser Gardens, and Covent Garden Market, this standout three storey mixed use property delivers the ultimate blend of visibility, versatility, and income potential. At street level, a thriving 1,330 sq ft convenience store anchors the property, a well established, owner operated convenience store business since 1997 with strong goodwill and a loyal customer base. Included in the sale (inventory extra), this turnkey operation offers immediate cash flow from day one. Above, two spacious 3-bedroom residential units provide excellent rental income potential in a location tenants actively seek. Zoning allows for a wide range of uses retail, cafe, restaurant, bar, or personal services giving you the flexibility to evolve the space as you grow. Live, work, and invest all under one roof. Rent out both apartments and the commercial space for maximum returns, or move into one unit while the rest of the property pays for itself. This is more than a property, it's a proven income generator in a prime downtown location.