Looking for a business for sale in Richmond Hill? This vibrant and growing community just north of Toronto is an ideal location for entrepreneurs, franchise investors, and professionals seeking profitable ventures. With a mix of retail, hospitality, and service-based businesses available, Richmond Hill offers exceptional value for both first-time buyers and seasoned investors.

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49 & 50 588 Edward Avenue
Devonsleigh Richmond Hill L4C 9Y6

$1,585,000 /For Sale
Commercial

Main Photo: 49 & 50 588 Edward Avenue in Richmond Hill: Devonsleigh Commercial for sale : MLS®# N13432120
Photo 1: 49 & 50 588 Edward Avenue in Richmond Hill: Devonsleigh Commercial for sale : MLS®# N13432120
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Status:
Active
Prop. Type:
Commercial
MLS® Num:
N13432120
Bus Major:
Professional Office
Exceptional opportunity to acquire a professionally finished commercial office condominium totaling approximately 3,521 sq. ft. in one of Richmond Hill's established business parks. Comprised of Units 49 & 50, this turnkey space features a highly efficient layout including reception area, 5 private offices, room for 19 main-level workstations, mezzanine workspace, renovated staff kitchen, 2 washrooms, and 5 reserved parking space. Updated rooftop HVAC unit (2025) and 2 EV charging stations installed under approved Section 98 Agreement. Ideal for engineering, technology, financial services, professional offices, consulting firms, medical administration, and other office users seeking a move-in-ready facility. Excellent access to Highways 404 and 407, Highway 7 transit corridors, and surrounding business amenities. A rare opportunity to acquire a professionally improved office space without the cost and delays associated with a new buildout.
Property Type:
Commercial
Property Sub Type:
Office
Freestanding:
No
Total Area:
3521 sq. ft. Square Feet
Total Area:
3,521 sq. ft.
Office/Apt Area:
3521 sq. ft. Sq Ft
Lot Depth:
0'
Lot Frontage:
0'
Lot Shape:
Rectangular
Bathrooms:
2.0
Water supply:
Municipal
Zoning:
MC1
Heating type:
Gas Forced Air Closed
Garage:
Outside/Surface
Possession Details:
November 2026
HST Applicable To Sale Price:
In Addition To
Type Taxes:
Annual
Taxes:
$9,547.76 / 2025
Assessment:
$- / -
York
Richmond Hill
Devonsleigh
Yes
Light Fixtures. 2x EV Charges.
Tenant Furniture (can be negotiated separately).
None
No
Utilities:
Yes
Sewers:
Sanitary+Storm
Air Conditioning:
Yes
Seller Property Info Statement:
No
Financial Statements:
No
Condo Fee:
$1,228.83
Major Business Type:
Professional Office
Category:
Office
Number of Drive-In Level Shipping Doors:
0
Date Listed:
Jun 11, 2026
Original Price:
Previous Price:
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Listed by COLDWELL BANKER THE REAL ESTATE CENTRE
Data was last updated June 14, 2026 at 06:15 AM (UTC)
DARYL  KING
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Why Buy a Business in Richmond Hill?

• Strong local economy supported by affluent residential neighbourhoods
• Easy access to highways 404, 407, and public transit options
• Growing population means increased demand across business sectors
• Variety of commercial properties including storefronts and office spaces
• Business-friendly policies and a supportive municipality

Features of Richmond Hill Businesses for Sale

Purchasing a business in Richmond Hill offers access to:

• Turnkey operations with existing customer bases
• Long-term lease agreements in high-traffic zones
• Restaurants, salons, medical practices, and convenience stores
• Franchise opportunities backed by national brands
• Flexible zoning for retail, professional, and mixed-use space

Neighbourhood Highlights for Business Owners

Richmond Hill’s commercial hubs stretch across key corridors like Yonge Street, Bayview Avenue, and Highway 7. Popular areas include:

  • Downtown Richmond Hill: High pedestrian traffic and heritage storefronts
  • Hillcrest Mall Area: Anchored retail plazas with steady footfall
  • Beaver Creek Business Park: Office and industrial spaces near major routes

These diverse zones cater to different business models, helping you align your investment with local demographics and traffic flow.

Who Should Consider Businesses for Sale in Richmond Hill?

Whether you’re expanding your franchise footprint or launching your first independent business, Richmond Hill provides:

Opportunity for owner-operated and absentee-run businesses

Affordable alternatives to downtown Toronto

Loyal local clientele in suburban communities

Low startup costs compared to urban core areas

Explore More GTA Homes:

Each link provides updated listings and expert insights.

FAQs – Business for Sale Richmond Hill

1. What’s the average investment needed to buy a business?
Prices start under $100,000 for small operations and go beyond $1 million for high-revenue franchises or specialized practices.

2. Are financing options available for buying a business?
Yes. Buyers can explore business loans, seller financing, or private equity. Our team connects you with lenders experienced in commercial purchases.

3. What due diligence is required before purchase?
Due diligence includes reviewing lease agreements, customer history, financial performance, inventory, and vendor contracts.

4. Why should I choose Richmond Hill over downtown Toronto?
Richmond Hill offers lower entry costs, easier parking and access, less competition in certain sectors, and a community-focused customer base.