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53 Observatory Lane

Observatory, Richmond Hill, L4C 8K9

$25/mo

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  • 6 bathrooms

Listed 44 days ago · MLS® N13749360

About this home

RARE TURNKEY RESTAURANT, LOUNGE & PREMIER EVENT VENUE IN THE HEART OF DOWNTOWN RICHMOND HILL! This is far more than a restaurant space-it is a show-stopping hospitality and entertainment destination designed to host unforgettable experiences. Offering approx. 5,700 sq. ft. of restaurant, lounge and event space, plus approx. 680 sq. ft. of private office area, this exceptional venue features a dramatic dance floor, full bar, professional-quality sound and music infrastructure, two large-screen TVs, extensive seating capacity and a fully equipped commercial kitchen. An outstanding opportunity for weddings, engagement parties, corporate functions, birthdays, cultural celebrations, live entertainment, ticketed programs, private venue rentals, upscale dining and nightlife concepts. Approx. 40 parking spaces are currently allocated to the premises, with the potential to accommodate up to approx. 100 vehicles, subject to availability, landlord approval and applicable arrangements-an extraordinary advantage for event-focused operators. The existing layout and infrastructure may significantly reduce the time and capital normally required to build a venue of this scale. Furniture, fixtures, kitchen/bar equipment, sound and music systems, TVs, tables, chairs and other business assets may be available through a separate agreement with the current business owner and are not included in the base rent. Existing liquor-licence and hookah-related approvals are subject to independent verification, transferability and regulatory approval. Net Rent: $25/Sq. Ft.; TMI: Approx. $12/Sq. Ft., plus HST, utilities and applicable charges. A space of this scale, energy and event capability is rarely offered in Richmond Hill. Photos cannot capture its atmosphere-book a private showing and experience the possibilities in person!

Details

Type
Commercial Retail
Age
31-50 years
Lot
200.19 × 615.63 ft
Garage
Outside/Surface
Property tax
$80,000 (2025)
Neighbourhood
Observatory
Municipality
Richmond Hill

Interior

Bathrooms
6 × bathroom

Heating, cooling and services

Heating
Gas Forced Air Open
Air conditioning
Yes
Utilities
Yes

Building and exterior

Age
31-50 years
Building area
7,491 Square Feet

Rental terms

Minimum term
36 months

More

Possession
TBA
Cross street
YONGE - WELDRICK
Business type
Hospitality/Food Related

History of this address

2 earlier listings 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

The neighbourhood

Getting around Very walkable

  • 🚆 Richmond Hill GO1.8 km

Within a 10-minute walk: 5 grocery stores, 33 cafés and restaurants, 11 parks, 6 pharmacies. Nearest grocery: No Frills (450 m). Nearest park: Dove Stone Park (200 m).

Schools nearby

Elementary

  • Sixteenth Avenue Public School
    EQAO: Gr 6 reading 95%, math 55%    10 min walk
  • Richmond Hill Montessori Private School Private13 min walk
  • Ross Doan Public School
    EQAO: Gr 3 reading 82%, math 71%    19 min walk
  • St. Joseph Catholic Elementary School Catholic
    EQAO: Gr 6 reading 100%, math 60%    1.4 km

Secondary

  • Roselawn Public School1.7 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 L4C

Owners / renters
70% / 30%
Median household income
$86,000
Average age
45
Children under 15
13%
Homes
49% detached, 30% high-rise
Commute by transit
10%
Population
74,636

Languages spoken most at home besides English: Iranian Persian 9.6%, Mandarin 6.2%, Yue (Cantonese) 4.3%, Russian 4%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Crime Severity Index for York Region police: 50 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

To Union Station (downtown Toronto): 24 km. Transit times · Driving times

Noise 1 source nearby

  • 🚆 Rail line (CN Bala Subdivision)100 m

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 REMAX YOUR COMMUNITY REALTY.

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

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