$1,569,000 - 8888 Yonge Street Unit 102 (C2), Richmond Hill
Commercial for Sale in Richmond Hill
Neighbourhood: South Richvale
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- MLS Number
- N13803348
- Property Type
- Commercial
- Status
- active
- Days on Site
- 19
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,026 sqft
- Neighbourhood
- Richmond Hill
- Taxes (2025)
- $19,978
- Listing Brokerage
- CENTURY 21 HERITAGE GROUP LTD.
Rare Opportunity To Own A Highly Visible Two-Level Commercial Unit In The Heart Of Richmond Hill At Yonge St & Hwy 7! Located In The Prestigious 8888 Yonge Mixed-Use Condominium Development, This Bright And Versatile Commercial Space Offers Approx. 2,026 Sq. Ft. Over Two Levels, Including Approx. 850 Sq. Ft. On The Ground Floor And 1,174 Sq. Ft. On The Mezzanine Level. Excellent Yonge Street Exposure With Expansive Windows Providing Exceptional Natural Light, Visibility And Signage Potential On Both Levels. Interior Staircase Connects The Main Floor To The Mezzanine, Creating A Unique Layout Ideal For Businesses Seeking Separate Customer-Facing And Office/Operational Areas. Potential Uses May Include Office, Retail, Medical, Café, Beauty/Wellness And Other Commercial Uses, Subject To Applicable Zoning And Municipal Approvals. Buyer And Buyer's Agent To Conduct Their Own Due Diligence And Independently Verify Zoning, Permitted Use, Licensing And All Municipal Requirements. Accessibility Lift Installation May Be Available At Additional Cost Through Builder- Recommended/Qualified Contractors. Convenient Commercial Parking Available On P1 On A First- Come, First-Served Basis, With Dedicated Elevator Access Connecting The Commercial Parking Level To The Main Level of the street. Additional Parking May Be Available For Purchase At $60,000 Or For Lease, Subject To Availability. One Of Only Three Commercial Units Within The Building. Exceptional Location In The Yonge & Hwy 7 Corridor, Surrounded By High-Density Residential And Commercial Development With Convenient Access To Major Roads, Transit And Area Amenities. VTB Financing Available At A Favorable Rate. An Excellent Opportunity For End Users, Professionals And Investors Looking For A Distinctive Commercial Street Presence On Yonge. The Unit Is Offered In An Unfinished Condition, Providing The New Owner With A Blank Canvas To Design And Finish The Space To Suit Their Vision, Brand And Business Needs.
Estimate your monthly payments for this property
Estimated Payment
$6,940.22/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover South Richvale
South Richvale 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 South Richvale
- •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
South Richvale 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.
8888 Yonge Street Unit 102 (C2), 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
At $774/sqft, this is priced in the upper range for GTA commercial — typical for prime locations or newer buildings. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
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 19-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.