178 Mill Street

ActiveRichmond Hill189 days on marketMLS® N12439173

$2,800,000

Bedrooms0

Bathrooms0

Interior0 sq ft

Lot Size21,878 sq ft

TypeCommercial

ListingFor Sale

Days on Market189

About this property

Exceptional 21,700 sq ft R2-zoned development site in prime Richmond Hill offering immediate rental income through flexible seller lease-back arrangement for up to 24 months. This rare investment opportunity combines instant cash flow with transformative development potential on one of the area's largest residential lots. With ~69 feet of frontage and approximately 320 feet depth, the property offers sophisticated investors multiple development pathways that have been professionally evaluated by WND Planners. The conceptual plans demonstrate two compelling options: three luxury single-detached homes ranging from 4,735 to 8,020 sq ft totaling 17,490 sq ft of premium living space, or six semi-detached units averaging 2,370 sq ft each for 14,200 sq ft total, appealing to a broader buyer demographic. The oversized lot exceeds R2 minimum requirements by 4x, with each potential lot surpassing the 5,000 sq ft minimum and 50 ft frontage requirement, providing exceptional flexibility for lot severance and entitlement enhancement strategies. The seller's lease-back eliminates traditional vacant land carrying costs, generating returns from day one while you navigate municipal approvals, market pre-construction units, or simply land bank in this appreciating neighborhood. With 30% lot coverage allowance, 11-meter height permissions allowing 3 storeys, and full municipal services already available, the property is primed for development. Located in an established Richmond Hill neighborhood with mature infrastructure, walking distance to schools, parks, shopping, and easy highway access to the Greater Toronto Area, this property positions investors at the forefront of the region's densification initiatives. The combination of immediate income, development flexibility, and strategic location makes this one of Richmond Hill's most compelling investment opportunities. Contact for private viewing.

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Property details

MLS® Number	N12439173
Status	Active
Listing Type	For Sale
Property Type	Commercial
Interior Size	0 sq ft
Lot Size	21,878 sq ft
Beds / Baths	0 bed · 0 bath
City	Richmond Hill
Postal Code	L4C 4B2
Province	ON
Listed Date	January 30, 2026
Days on Market	189
Brokerage	RIGHT AT HOME REALTY