RICHMOND HILL MARKET
Market Overview
Richmond Hill combines small-town charm with urban sophistication, featuring a revitalizing downtown along Yonge Street and established commercial nodes throughout the community. The municipality's affluent demographics—among the highest household incomes in the GTA—support strong retail performance.
The Yonge Street corridor is experiencing intensification with mixed-use developments, while established areas like Hillcrest Mall and Highway 7 continue to serve local retail needs. The future Yonge North subway extension will further transform the market.
KEY AREAS
Commercial Districts in Richmond Hill
Major commercial areas and investment opportunities
Downtown Yonge Street
Historic main street undergoing intensification. New mixed-use developments adding office and retail.
Highway 7 Corridor
Major retail arterial with power centers, plazas, and automotive uses. High traffic and visibility.
Hillcrest Mall Area
Established retail node anchored by regional mall. Surrounded by complementary retail.
Newkirk Business Park
Business park with office and industrial flex space. Good highway access.
Oak Ridges
Neighbourhood retail serving affluent residential areas. Local services and dining.
MARKET DATA
Richmond Hill Commercial Real Estate Statistics
Avg. Retail Rate
$28-50/sq ft
Avg. Office Rate
$18-30/sq ft
Avg. Industrial Rate
$14-17/sq ft net
Retail Cap Rate
5.5%-7%
Industrial Cap Rate
5.5%-6.5%
Why Invest in Richmond Hill?
OUR SERVICES
How We Help Richmond Hill Landlords
Property Sales
Expert representation for selling your Richmond Hill commercial property at maximum value.
Commercial Leasing
Find quality tenants and negotiate favorable lease terms for your Richmond Hill property.
Market Analysis
Local market expertise and accurate valuations specific to Richmond Hill.
FREQUENTLY ASKED QUESTIONS
Richmond Hill Commercial Real Estate FAQs
How does Richmond Hill's affluent demographic affect commercial real estate?
What will the Yonge subway extension mean for Richmond Hill commercial property?
What commercial opportunities exist in Richmond Hill?
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