Zoned U1-40(12 storeys) ~~~ This 3-unit mixed-use property has a lot to offer the pure investor or owner occupier! With over 1400 square feet of main-floor retail space, the zoning permits financial institution, medical office, personal services, restaurant, retail store, tech office, vet clinic, art studio, business incubator, and so much more! With corner-lot exposure, 9 parking spaces, and a location in the heart of Uptown Waterloo, the stage is set for a new business to operate where this Seller's business thrived for over 35 years. Find 3-bedroom and 1-bedroom apartments on the upper floors, each with separate hydro meters, which can help to make this a great investment. Forecasted modest rents and actual expenses show a cap rate over 4%, making this a favourable investment in the short-term while holding and planning for highest-and-best-use. Just a few blocks from WLU, UW, Conestoga College, Light-Rail Transit, and Waterloo Park, this presents a great opportunity for attracting residential tenants and commercial clients in a neighbourhood that is enjoyable to be in. Projected revenue of $88k and NOI of $65k. Explore the possibilities for a great investment, today! (id:47423)
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Detailed Information
Lot
66 x 131 ft
Amenities Nearby
Hospital, Public Transit, Schools
Features
Visual exposure, Paved driveway
Listing Contract Date
2024-02-07
Location Description
At the corner of Regina Street North and Young Street East, just 1 block east of King Street North.
Ownership Type
Freehold
Property Type
Office
Transaction Type
For sale
Zoning Description
U1-40
Building
Basement Type
Full
Exterior Finish
Aluminum siding, Brick
Stories Total
3
Size (Exterior)
4040
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Detached Garage
Land
Total Size
0.199 acres
Access Type
Highway access, Rail access
Amenities
Hospital, Public Transit, Schools
Sewer
Municipal sewage system
Size of Irregular Land
0.199
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