53 Observatory Lane
Richmond Hill, ON
- 6 bath
- 7,491 sqft
- Commercial Retail
- 14 days on market
RARE TURNKEY RESTAURANT, LOUNGE & PREMIER EVENT VENUE IN THE HEART OF DOWNTOWN RICHMOND HILL! This is far more than a restaurant space-it is a show-stopping hospitality and entertainment destination designed to host unforgettable experiences. Offering approx. 5,700 sq. ft. of restaurant, lounge and event space, plus approx. 680 sq. ft. of private office area, this exceptional venue features a dramatic dance floor, full bar, professional-quality sound and music infrastructure, two large-screen TVs, extensive seating capacity and a fully equipped commercial kitchen. An outstanding opportunity for weddings, engagement parties, corporate functions, birthdays, cultural celebrations, live entertainment, ticketed programs, private venue rentals, upscale dining and nightlife concepts. Approx. 40 parking spaces are currently allocated to the premises, with the potential to accommodate up to approx. 100 vehicles, subject to availability, landlord approval and applicable arrangements-an extraordinary advantage for event-focused operators. The existing layout and infrastructure may significantly reduce the time and capital normally required to build a venue of this scale. Furniture, fixtures, kitchen/bar equipment, sound and music systems, TVs, tables, chairs and other business assets may be available through a separate agreement with the current business owner and are not included in the base rent. Existing liquor-licence and hookah-related approvals are subject to independent verification, transferability and regulatory approval. Net Rent: $25/Sq. Ft.; TMI: Approx. $12/Sq. Ft., plus HST, utilities and applicable charges. A space of this scale, energy and event capability is rarely offered in Richmond Hill. Photos cannot capture its atmosphere-book a private showing and experience the possibilities in person!
Listing Details
- Taxes (2025) — owner
- $80,000
- Listed
- September 3, 2026
Price History
Listing history
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Property
- Age
- 31-50
- Lot Size
- 200.19 x 615.63 Feet
Parking
- Garage
- Outside/Surface
Utilities
- Water
- None
Location & Legal
- Cross Street
- YONGE - WELDRICK
- Zoning
- R-IND Depth
- Parcel Number
- 031450329
- Possession
- Immediate
- Occupancy
- Vacant
Commercial
- Business Type
- Hospitality/Food Related
- Office / Apartment Area
- 685.66 Sq Ft
- Rental Term
- 36-60 months
Included
- Inclusions
- Use of the leased premises, including the existing built-in bar area, dance floor, private office area and permanent improvements forming part of the premises, as specifically identified in the final lease agreement.
- Exclusions
- All furniture, trade fixtures, commercial kitchen and bar equipment, sound and music equipment, televisions, tables, chairs, décor, inventory, business name, goodwill, licences and other assets belonging to the current business owner, unless separately purchased, leased or otherwise agreed in write
Community
Postal area L4C
- Population
- 74,636
- Private dwellings
- 30,129
- Median age
- 46
- Average household size
- 2.6
- Median household income
- $86,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
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