Salehian.com 647-325-5000

398 Richmond Street

East K, London East, N6A 3C7

$885,000

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Listed 70 days ago · MLS® X13660732

About this home

ONE PROPERTY. MULTIPLE INCOME STREAMS. PRIME DOWNTOWN LOCATION. An opportunity designed to get an investor's attention. This three-storey mixed-use property is ideally positioned just steps from Fanshawe College, Dundas Place, Budweiser Gardens, and Covent Garden Market, offering exceptional visibility, foot traffic, and long-term potential. The 1,330 sq. ft. main-floor commercial space is home to a well-established convenience store, successfully owner-operated since 1997, with strong goodwill and a loyal customer base. The business is listed separately and may be purchased with the building for the right buyer. Above are two spacious 3-bedroom residential units of approximately 1,093 sq. ft. and 963 sq. ft., providing additional rental income potential. With zoning allowing uses including retail, café, restaurant, bar, and personal services, the possibilities are broad. Three floors. Multiple revenue streams. One prime downtown address. Whether you're looking to maximize rental income, operate a business, or build a flexible investment portfolio, this property gives you the opportunity to do it all under one roof.

Details

Type
Commercial Retail
Lot
24.05 × 54.51 ft
Garage
None
Property tax
$9,787 (2025)
Neighbourhood
East K
Municipality
London East

Heating, cooling and services

Heating
Gas Forced Air Closed
Air conditioning
Yes
Utilities
Yes

Building and exterior

Building area
3,203 Square Feet

More

Possession
Flexible
Cross street
Richmond and Dundas
Business type
Retail Store Related

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: 4 grocery stores, 87 cafés and restaurants, 22 parks, 1 pharmacy. Nearest grocery: Sacred Earth Vegan Market (100 m). Nearest park: Market Lane (100 m).

Schools nearby

Elementary

  • Lord Roberts Public School18 min walk
  • Jeanne-Sauvé Public School
    EQAO: Gr 6 reading 97%, math 58%    1.4 km
  • Victoria Public School
    EQAO: Gr 6 reading 42%, math 5%    1.5 km
  • St. Martin Separate School Catholic
    EQAO: Gr 6 reading 87%, math 42%    1.5 km

Secondary

  • London Central Secondary School
    EQAO: Gr 9 math 81%, literacy test 91%    11 min walk
  • Catholic Central High School Catholic
    EQAO: Gr 9 math 57%, literacy test 89%    15 min walk
  • H.B. Beal Secondary School
    EQAO: Gr 9 math 56%, literacy test 79%    1.3 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area N6A

Owners / renters
29% / 71%
Median household income
$61,200
Average age
41
Children under 15
7%
Homes
19% detached, 55% high-rise
Commute by transit
12%
Population
13,810

Languages spoken most at home besides English: Spanish 1.1%, Mandarin 1%, Portuguese 0.8%, Arabic 0.6%.

Safety

Crime Severity Index for London police: 73 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by ROYAL LEPAGE TRILAND REALTY.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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