9651 Yonge Street
|Overall Size 31,858 SF|
|Lot Area 2.4 acres|
|Parking 122 stalls at grade|
Lennard Retail Investment Services (the “Advisor”) is pleased to present the opportunity to a acquire a 100% freehold interest in 9651 Yonge Street, Richmond Hill (the “Property”), a retail plaza anchored by Shoppers Drug Mart. The property is located in the heart of Richmond Hill, and comprised of 31,858 square feet of leasable area and is 100% occupied. The plaza is well-designed new format retail, has ample parking, premium signage, and a history of being fully occupied.
The Property is situated on a 2.4 acre lot, and capitalizes from premium visibility and high traffic counts. The property is within Richmond Hill’s "Yonge Street Central" Corridor. This corridor is the major location for higher order uses in Richmond Hill, and a focus of intensification continues to drive redevelopment into High Density Mixed-Use developments along this corridor. Already supported by the VIVA bus service, new transit initiatives include the Bus Rapid Transit (BRT) currently under construction.
Considerable future density can be considered for this urban property. An initial planning review and density modeling estimates 450,000 square feet of gross floor area, primarily residential, could be reasonably expected and supported by in-place planning principals in this corridor where intensification is being promoted and encouraged.
The property is being offered free and clear of financing.
- Investment Grade Anchor Tenant
- New Format Retail
- 2.4 acre property along Yonge Street
- Below Market Rents
- Within the Richmond Hill Intensification Corridor
- VIVA Rapidway Currently Under Construction