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
Royal LePage Wolle Realty
$719,999
116 - 280 Lester Street, Waterloo, Ontario
0 Bedrooms
558 Sqft
Property
MLS® Number: 40734577
Address: 116 - 280 Lester Street
City: Waterloo
Exterior: Concrete
This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.
Property Sale History
Travel and Neighbourhood
80/100Walk Score®
Very Walkable
Location
