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Commercial Property in Richmond Hill
Unit 3 at 50 West Wilmot Street
Rare Assignment Opportunity to Take Over a Clean, Renovated 4,041 Sq. Ft. Industrial Unit Near Leslie St. & Highway 7, Just 7 Minutes from Highways 407 & 404. Features 45% Office/Showroom Space and 55% Warehouse Space, 4 Private Offices, Separate Washrooms, 18 Ft. Clear Height, Skylights, One Truck-Level Shipping Door, Excellent Shipping and Ample Parking. Clean Uses Only. Lease Assignment Through June 30, 2028, Subject to Landlord Approval. Occupancy Available in 2 Months.
Richmond Hill industrial priced at $19 — book a tour to see if it fits your search.
How assignment sales work
What changes when you buy a builder contract instead of a finished home: HST, deposits, builder consent — each checked against its official source.
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What an assignment is
An assignment sale is when the original buyer of a new, not-yet-completed home (the assignor) sells their rights and obligations under the agreement of purchase and sale with the builder to someone else (the assignee), who then closes with the builder.
Since May 7, 2022, all assignment sales of newly constructed or substantially renovated residential housing are taxable for GST/HST. For assignment agreements entered into after May 6, 2022, an amount that reimburses the assignor's deposit to the builder can be excluded from the taxable amount when the assignment agreement states that part of the price is for that deposit reimbursement.
On a new condominium unit, the builder must hold deposit money in trust under the Condominium Act, and the new home warranty protects up to $20,000 if a deposit was not placed in trust. On a new freehold home, Tarion covers the deposit up to $60,000 on homes priced at $600,000 or less, and 10% of the price up to $100,000 above that.
Whether a unit can be assigned, and on what terms (for example the builder's written consent or an assignment fee), is set by the assignment clause of the original agreement of purchase and sale. Read that clause, with a lawyer, before you commit.
Checked against the sources above on 2026-09-25. Not legal or tax advice.
Ask before you offer
This listing's description doesn't state the original purchase price, how much deposit is paid, the occupancy date or the builder's assignment fee. The full package (the original agreement and deposit receipts) answers these.
Selling an assignment?
List it free with Summitly — your contact details stay private and a licensed agent handles every buyer.
Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.
Book a tour of 50 West Wilmot St #3 with a licensed buyer's agent
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Richmond Hill
Other homes for sale in Richmond Hill around $18.5.
Average days on market34Homes sold in about 34 days on average.
Sale-to-list ratio98.6%On average, homes sold below asking.
Active listings1,196Homes for sale here right now.
Median vs prior 90 days+3.0%Compared with May 14 – Aug 12, 2026: prices up.
Based on 788 sales from Aug 12 – Nov 10, 2026 (641 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 50 West Wilmot St #3
Is 50 West Wilmot St #3 an assignment sale?
Yes. The listing describes it as an assignment: the original buyer is selling their contract with the builder, and the buyer who takes it over closes with the builder.
How much cash do I need to buy 50 West Wilmot St #3?
On an assignment you typically repay the original buyer's deposit and pay any markup when the assignment is signed, then pay the builder the balance at final closing, usually with a mortgage. This listing doesn't state enough figures to work out the amounts — ask for the full package.
Is HST charged on an assignment sale?
Since May 7, 2022, assignment sales of new residential homes are taxable for GST/HST (CRA info sheet GI-120). The part of the price that reimburses the original buyer's deposit can be excluded from the taxable amount when the assignment agreement says so.
Does the builder have to approve an assignment?
Usually the original agreement of purchase and sale sets whether the unit can be assigned and on what terms — often the builder's written consent and an assignment fee. Read that clause with a lawyer before you commit.
How much is 50 West Wilmot St #3 listed for?
50 West Wilmot St #3 is listed at $19 (MLS® N14166254). Summitly updates the price as soon as the MLS® record changes.
Has the price of 50 West Wilmot St #3 changed?
No — 50 West Wilmot St #3 is still listed at its original asking price of $19.
How many bedrooms and bathrooms does 50 West Wilmot St #3 have?
The listing for 50 West Wilmot St #3 doesn't publish its bedroom and bathroom count. It is a commercial property in Richmond Hill.
How does 50 West Wilmot St #3 compare with other homes in Richmond Hill?
Its asking price of $19 is about 100% below the median sold price in Richmond Hill over the last 90 days, $1,133,400, across 788 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Where is 50 West Wilmot St #3?
50 West Wilmot St #3 is in Richmond Hill, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 50 West Wilmot St #3 been on the market?
50 West Wilmot St #3 was listed today (November 10, 2026).
