587 Lambton Street
London East, ON
- 2,330 sqft
- Office
LOCATED AT ADELAIDE / LAMBTON. HIGH TRAFFIC COUNT. Rare freehold mixed-use opportunity with income, office space and exceptional flexibility. Located in London, this OC5/R2-2 property combines an established main-floor office configuration with a separately rented 2-bedroom residential apartment above. The main level features two flexible office spaces, kitchenette and 2-piece bathroom, providing an excellent setup for an owner-user, professional office or service-based business. The upper apartment offers 2 bedrooms, full bathroom, updated kitchen finishes and refinished hardwood flooring, providing a residential component. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. 8 on-site parking spaces add significant value for both business and residential users. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
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Listing Details
- Taxes (2026)
- $10,144
- Listed
- September 17, 2026
Price History
Listing history
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Property
- Age
- 51-99
- Lot Size
- 48.85 x 143.71 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Lambton / Adelaide
- Zoning
- OC5-R2-2
- Parcel Number
- 082320036
- Possession
- Flexible
- Occupancy
- Owner
Commercial
- Business Type
- Professional Office
- Office / Apartment Area
- 1167 Sq Ft
Included
- Inclusions
- All existing: fridge in lower unit, stove in lower unit, fridge in upper unit, stove in lower unit, 2 owned hot water heaters, coin operated washer and dryer. all window coverings.
- Exclusions
- None.
- Rental Items
- None.
Community
Postal area N5Y
- Population
- 35,934
- Private dwellings
- 16,194
- Median age
- 35.6
- Average household size
- 2.3
- Median household income
- $63,600
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.
Local market
Commercial in London East · last 12 months
- Median sold price
- $460,000
- Homes sold
- 1,326
- Median days on market
- 25
- Sale-to-list price
- 97.0%
Based on 1,326 recorded sales of commercial properties in London East over the last 12 months.
Listed by
RE/MAX CENTRE CITY REALTY INC.
Walk Score
Walk
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Location
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Commercial figures
- Building area
- 2,330 sq ft
- Price per sq ft
- $371.20
- Annual property tax
- $10,144
- Tax per sq ft
- $4.35
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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