Salehian.com 647-325-5000

398 Richmond Street

East K, London East, N6A 3C7

$99,000

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Listed 70 days ago · MLS® X13660734

About this home

ATTENTION BUSINESS BUYERS - YOUR SEARCH STOPS HERE! A rare opportunity to take over a well-established convenience store with nearly three decades of proven operation! Successfully operated by the same owners since 1998, this business is now being offered for sale as the owners are ready to retire after an incredible run. Located on Richmond Street, near the busy Richmond & Dundas area, this convenience store benefits from excellent exposure and a convenient location. The business offers an attractive lease rate of only $2,900/month + HST, providing an excellent opportunity for an owner-operator looking to step into an established business with a loyal customer base. Average weekly sales of approximately $8,500 plus monthly Lotto commissions of approximately $1,700 provide multiple revenue streams and strong potential for a motivated new owner to build upon the existing success. After 27+ years of continuous ownership and operation, opportunities like this don't come around often. Whether you're an experienced operator or looking to enter the convenience-store business, this is a turnkey opportunity worth exploring. Act now - established business, proven history, attractive lease, and prime location!

Details

Type
Sale Of Business
Lot
24.05 × 54.51 ft
Garage
None
Neighbourhood
East K
Municipality
London East

Heating, cooling and services

Heating
Gas Forced Air Closed
Air conditioning
Yes
Utilities
Available

Building and exterior

Building area
1,330 Square Feet

More

Possession
Owners Running the Business
Cross street
Richmond and Dundas
Business type
Convenience/Variety

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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