$1,255,000 - 9205 Yonge Street Unit Level 1, NE (2-3-4), Richmond Hill
Commercial for Sale in Richmond Hill
69 days on marketNeighbourhood: North Richvale
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- MLS Number
- N13621876
- Property Type
- Commercial
- Status
- active
- Days on Site
- 69
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 1,255 sqft
- Neighbourhood
- Richmond Hill
- Taxes (2025)
- $16,243
- Listing Brokerage
- CENTURY 21 HERITAGE GROUP LTD.
**Rare Medical & Commercial Investment Opportunity at Yonge & 16th!**Welcome to Unit NE-2-3-4, a rare 1,255 sq. ft. combined commercial condominium in one of Richmond Hill's most desirable commercial locations. This unique offering combines three units into one open-concept space with no interior dividing walls, providing exceptional flexibility for a medical clinic, family physician, dental office, pharmacy, physiotherapy, chiropractic, diagnostic or wellness centre, cosmetic medical practice, as well as professional offices, retail, beauty, spa, café, restaurant, and other service-related businesses (subject to municipal approval).Medical zoning has been obtained, making this an outstanding opportunity for healthcare professionals. Buyers and their representatives are responsible for verifying all permitted uses, zoning, licensing, permits, and municipal requirements with the Town of Richmond Hill. The unfinished interior offers a blank canvas to design and customize the space to suit your business and brand. The three units are currently combined but may also be purchased individually, allowing buyers to select the size that best fits their needs. Ideally located at the busy intersection of Yonge Street & 16th Avenue, this property offers excellent visibility, strong traffic exposure, outstanding demographics, and convenient access to Highways 407 and 404, public transit, and surrounding residential neighbourhoods. Underground visitor parking is available on a first-come, first-served basis through a convenient QR code registration system. Whether you're opening a medical practice, expanding your business, or investing in a premier commercial location, this property offers exceptional flexibility, exposure, and long-term potential.
Estimate your monthly payments for this property
Estimated Payment
$5,551.29/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 North Richvale
North 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 North 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
North 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.
9205 Yonge Street Unit Level 1, NE (2-3-4), 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 $1,000/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.
Extended Exposure — Negotiating Room
At 69 days on market, this commercial property has had significant exposure. Commercial listings typically take longer to sell than residential, but this timeline may indicate pricing or tenancy issues worth exploring. A motivated seller often means better terms for a prepared buyer.
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.