16 Young Street E Waterloo, Ontario N2J 2L3
$1,595,000
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:49454)
Property Details
| MLS® Number | 40500109 |
| Property Type | Office |
| Amenities Near By | Hospital, Public Transit, Schools |
| Equipment Type | Other |
| Features | Visual Exposure, Paved Driveway |
| Parking Space Total | 12 |
| Rental Equipment Type | Other |
Building
| Basement Type | Full |
| Exterior Finish | Aluminum Siding, Brick |
| Foundation Type | Stone |
| Stories Total | 3 |
| Size Exterior | 4040.0000 |
| Utility Water | Municipal Water |
Parking
| Detached Garage |
Land
| Access Type | Highway Access, Rail Access |
| Acreage | No |
| Land Amenities | Hospital, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 131 Ft |
| Size Frontage | 66 Ft |
| Size Irregular | 0.199 |
| Size Total | 0.199 Ac|under 1/2 Acre |
| Size Total Text | 0.199 Ac|under 1/2 Acre |
| Zoning Description | U1-40 |
https://www.realtor.ca/real-estate/26180613/16-young-street-e-waterloo
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November 16 2023 05:10:38
Kitchener-Waterloo Association of REALTORS®
Victoria Park Real Estate Ltd.