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Waterloo, ON N2L 3W5,280 Lester Street #116
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Waterloo, ON N2L 3W5,280 Lester Street #116
Waterloo, ON N2L 3W5,280 Lester Street #116
Waterloo, ON N2L 3W5,280 Lester Street #116
Waterloo, ON N2L 3W5,280 Lester Street #116
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Christine Caparello

Christine Caparello

+1(905) 462-2775
Listed by Jafar Konoodi • Royal LePage Wolle Realty
$ 719,999
Est. payment /mo
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Active

280 Lester Street #116 Waterloo, ON N2L 3W5

558 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed,Building and Land

Listing Status Active

Purchase Type For Sale

Square Footage 558 sqft

Price per Sqft $1,290

MLS Listing ID 40734577

HOA Fees $549/mo

HOA Y/N Yes

Abv Grd Liv Area 558

Annual Tax Amount $6,003

Property Sub-Type Mixed,Building and Land

Source Waterloo Region

Property 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

Location

Province ON

County Waterloo

Area 4 - Waterloo West

Zoning NMU-8

Direction University Ave to Lester

Rooms

Basement None

Kitchen 0

Interior

Fireplace No

Exterior

Garage Description 2

Garage No

Building

Lot Description Business Centre

Faces University Ave to Lester

Story 1

Sewer Sewer (Municipal)

Water Municipal

Structure Type Concrete

New Construction No

Others

Senior Community No

Tax ID 236260016

Ownership Condominium

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+1(905) 462-2775

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280 Lester Street #116