$20/mo - 10132 Yonge Street Unit 201, Richmond Hill
Commercial for Rent in Richmond Hill
Neighbourhood: Mill Pond
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- MLS Number
- N13800228
- Property Type
- Commercial
- Status
- active
- Days on Site
- 20
- Bedrooms
- 0
- Bathrooms
- 2
- Square Feet
- 1,490 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- KELLER WILLIAMS REFERRED URBAN REALTY
Position your business in a Landmark Modern Heritage building in the heart of Old Richmond Hill at 10132 Yonge Street. This bright 1490 sq ft second-floor office suite offers a professional and welcoming environment with reception area, 5 large private offices, a boardroom, a kitchen and a storage room. Oversized windows and abundant natural light-create a comfortable and productive workspace for both staff and clients. This space can be divided potentially into smaller spaces. Located on one of Richmond Hill's most established professional corridors, the building is home to a respected mix of service-based businesses including an immigration law firm, psychotherapy practice, and CHATS community services, creating excellent synergy for professionals in legal, healthcare, counselling, consulting, or administrative services. Clients will appreciate the prominent Yonge Street location with easy access to public transit, nearby municipal offices, and the growing collection of cafés, restaurants, and local shops throughout Old Richmond Hill Village. Two parking spaces are available at the rear of the building for added convenience. TMI is $14/sq.ft. Professionally maintained with SECURE ENTRY and VIDEO MONITORING, this space offers a polished and TURNKEY setting for professionals seeking a central, character-filled location to grow their practice.
Discover Mill Pond
Mill Pond is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Mill Pond
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Mill Pond offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
10132 Yonge Street Unit 201, Richmond Hill
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Key factors for evaluating this commercial property
Commercial Due Diligence Checklist
· Verify zoning and all permitted uses
· Review all existing leases (terms, renewals, net vs. gross)
· Request estoppel certificates from all tenants
· Order a Phase 1 Environmental Site Assessment
· Commission a property condition assessment
· Review operating costs (taxes, insurance, maintenance)
Commercial Financing Note
Commercial mortgages require 20–35% down, shorter amortization, and lenders underwrite based on the property's income. CMHC insurance is not available for commercial. Connect with a commercial mortgage broker early.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Commercial Pricing Context
Commercial property values in Richmond Hill are driven by location, zoning, current tenancy, and income potential — not the same $/sqft benchmarks as residential. I'll run a proper comparable sales analysis using recent commercial transactions in this area.
Commercial Market Pace
Commercial real estate transactions typically take 60–120 days from offer to close — longer than residential — due to financing conditions, environmental reports, and tenant estoppel reviews. This 20-day listing is within normal commercial market exposure.
Zoning & Permitted Use — Verify First
I always confirm the zoning and permitted uses before a client gets too far into a commercial transaction. What a property is currently used for and what it's legally permitted for are sometimes different. If you plan to change the use, a zoning amendment or minor variance may be required — that's additional cost, time, and risk.
Tenancy & Income Review
If this property has existing tenants, I'd want to review all leases carefully: term lengths, renewal options, rent amounts, escalation clauses, and who's responsible for operating costs (gross lease vs. net lease). A strong long-term tenant is an asset; a lease expiring at closing is a different story. We'll request estoppel certificates from all tenants.
Environmental & Due Diligence
A Phase 1 Environmental Site Assessment is standard practice for commercial purchases in Ontario. If historical industrial use is flagged, you'll need a Phase 2. I also recommend a property condition assessment covering structure, roof, HVAC, and electrical — commercial systems are expensive to replace and often not disclosed in detail on the listing.
Commercial Financing Realities
Commercial mortgages work differently than residential. Expect 20–35% down, shorter amortization (15–25 years), and lenders who underwrite based on the property's income, not just your personal financials. CMHC insurance is generally not available for commercial, and rates are typically higher. I can connect you with commercial mortgage brokers who specialize in Richmond Hill transactions.