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428 Clarence Street

London East, N6A 3M8·MLS® X13241802·

Listing courtesy of Everest Realty LTD.·Updated 4 days ago

0Beds
0Baths
Sqft
Year Built

Listing price

$349,999

Est. $1,667/mo

Days on market

5

Listed Jun 4, 2026

Description

Excellent opportunity to own a well-established restaurant business in the heart of London's downtown core. Located in a desirable high-traffic commercial area next to TD Bank and surrounded by offices, retail businesses, and strong pedestrian activity, this business offers excellent visibility, convenient access, and strong potential for future growth. The restaurant has been successfully operating for 6 years and features a spacious dining area with seating for approximately 144 guests, a large commercial kitchen, and a private room ideal for parties, corporate meetings, presentations, and special events. This is a turnkey business opportunity suitable for owner-operators, entrepreneurs, investors, or experienced restaurant operators. The buyer may have the option to continue with the existing franchise, including brand name, training, marketing, support, and operational guidance, or operate independently, subject to all required approvals, regulations, and applicable franchise conditions. Very attractive rent of approximately $7,300 per month including HST. List of chattels, equipment, and sales information available upon request.

Property details

Type

Sale Of Business — Without Property

Heating

Gas Forced Air Open

AI property estimate

$339,783Below Market
$318,783$360,783

82% confidence · 11 comparable sales analysed

Location & neighbourhood

Downtown London

London East, ON

Urban core with condos, restaurants, and transit access.

Monthly payment estimate

Mortgage (5.24%, 25yr)$1,667
Property tax$379
Insurance (est.)$73
Utilities (est.)$250
Total monthly$2,369

Land transfer tax

Ontario LTT

$3,725

First-time rebate

$3,725

First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.

Price & listing history

Jun 4, 2026Listed
$349,999

Market conditions · East F

Buyer's marketBalancedSeller's market

Avg. sold price

$682,400

+5.2%

Avg. days on market

18

−3d

Sale-to-list ratio

101.2%

+0.8%

Investment analysis

Est. monthly rent

$1,400

Rental yield

4.8%

Est. cash flow

-$969

Cap rate

3.2%

Best time to sell

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Peak
Good
Average

Affordability

Minimum household income required

$88,842

Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.

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AI estimate

$339,783

Below Market

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