116-280 Lester Street, Waterloo ON N2L 3W5
280 Lester St, Waterloo, ON N2L 0G2, Canada
280 Lester St, Waterloo, ON N2L 0G2, Canada
$649,000
Request info
Basics
- Date added: Added 3 hours ago
- Category: Building and Land, Mixed
- Type: Commercial Sale
- Status: Active
- Bedrooms: 0
- ListOfficeName: Royal LePage Wolle Realty
- UnitNumber: 116
- ListAOR: Waterloo Region
- MLS ID: 40759992
Description
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Description:
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 ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% 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?
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- 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
- Directions: University Ave to Lester
- CountyOrParish: Waterloo
Amenities & Features
- Waterfront available: No
- GarageYN: No
- AttachedGarageYN: No
- CoolingYN: No
- PoolPrivateYN: No
- FireplaceYN: No