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For Sale

316 King Street N, Waterloo, ON N2J 2W6

$14,880,000

  • Investment
  • MLS® X13604606

Listing Brokerage: RE/MAX REALTY SPECIALISTS INC.

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.

Property details

MLS® number
X13604606
Transaction
For Sale
Property type
Commercial
Style / use
Investment
City
Waterloo
Building area
28438 Square Feet
Lot width
230.79 Feet
Lot depth
125 Feet
Heating
Gas Forced Air Open
Cooling
Yes
Garage
Underground
Taxes
$114,580.80
Tax year
2026
Business type
Apts - Over 20 Units
Office area
171986
Listing brokerage
RE/MAX REALTY SPECIALISTS INC.

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