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$ 14,880,000
Est. payment | /mo
28,438 SqFt
$ 14,880,000
Est. payment | /mo
28,438 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 28,438 sqft
Price per Sqft $523
MLS Listing ID X13604606
Annual Tax Amount $114,580
Tax Year 2026
Property Sub-Type Investment
Lot Depth 125.0
Lot Front 230.79
Property Description
A rare opportunity to acquire a prominent King Street address in the heart of Waterloo, anchored by an existing 10-storey residential building with a proven rental history. Strategically located within walking distance to the University of Waterloo, Wilfrid Laurier University, and Conestoga College Waterloo Campus, this property sits in one of the region's most desirable rental corridors, surrounded by constant demand from students, professionals, and urban residents. Built in 2009, the existing building has remained fully rented since completion, offering investors immediate in-place income, stability, and long-term holding value in a high-growth market. The additional upside makes this opportunity truly exceptional. The same lot benefits from approved zoning for a 14-storey condominium development, allowing for a total project of 123 condominium apartments with a mix of one, two, and three-bedroom units. This gives the purchaser the rare ability to secure strong existing cash flow today while unlocking significant future development potential. For builders, developers, and strategic investors, the groundwork has already been advanced. A full team of architects, planners, and builders is available and ready to assist with execution, if required. This is more than a development site. It is an income-producing asset with a clear path to growth in one of Waterloo's strongest urban locations.
Location
Province ON
County Waterloo
Area Waterloo
Interior
Heating Yes
Cooling Yes
Exterior
Utilities Available Available
Lot Frontage 230.79
Lot Depth 125.0
Building
Lot Description Irregular Lot
Others
Security Features No
ParcelsYN No
Listed by RE/MAX REALTY SPECIALISTS INC.
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