$719,999
( $1290.32Per Sq Foot )
$3,865 est/mo Sourced by Back At You116-280 Lester Street,Waterloo, ON N2L 3W5
Waterloo, ON N2L 3W5
Description
Commercial Condo in great location close to the University of Waterloo. This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$41,930 over the next four years, resulting in a strong ~5.82% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest on it? Long-term, escalating lease in place Low operational burden Strong rental growth outlook Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation
Details
| MLS# | 40734577 |
|---|---|
| Listing Type | For Sale |
| HOA Dues | $549 |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 13 |
| Listing Provided By | Royal LePage Wolle Realty | Jafar Konoodi |
Features
| SQ Feet | 558 |
|---|---|
| Story(s) | 1 |
| Zoning | NMU-8 |
Taxes
| Property | 2589 |
|---|
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Waterloo |
| City | Waterloo |
| Postal Code | N2L 3W5 |
| Area | 4 Waterloo West |
| Subarea | 417 Beechwood | University |
| Community Name | 417 Beechwood/University |
| Listing VS Median (in 417 Beechwood/University) | |
Price: $719,999 low | high Med: $469,900 SqFt: 558 low | high Med: 1,034 $ / SqFt: $1,290 low | high Med: $487 On site: 13 low | high Med: 87.000000 | |
Listing Updated: June 8, 2025 at 4:39:19 PM PDT