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$ 3,500,000
Est. payment | /mo
12,988 SqFt
$ 3,500,000
Est. payment | /mo
12,988 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 12,988 sqft
Price per Sqft $269
MLS Listing ID X10426004
Annual Tax Amount $60,124
Tax Year 2024
Property Sub-Type Investment
Property Description
7% Cap Rate - Fully Leased, historic Income producing property located in the heart of Downtown Kitchener. Built in 1908, spanning 4 floors this multi Tenant property has been fully improved. All mechanical, electrical, fire rating, windows, roof and life safety systems have been modernized. The building is anchored by Maxon, a division of Nemetschek Group. A German based software vendor with a market capitalization of over $14B and yearly revenue over $1.1B. Maxon specializes in 3D modelling, animation and rendering software. They have invested heavily in the building with their Tenant improvements. The main floor retail Tenant Tamasha Resto Bar is a successful operation that exists in Toronto. They have a track record being professional operators and have created a unique experience combining Indian Fusion with entertainment. The NOI is $241,441.00. Current Lease expiries are Dec 31, 2028 for the Anchor Tenant Maxon and Aug 31, 2029 for Tamasha Resto Bar. **EXTRAS** **Interboard listing: Cornerstone - Waterloo Region**
Location
State ON
County Waterloo
Area Waterloo
Zoning D1
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 25.14
Lot Depth 159.12
Others
Security Features Yes
Listed by Whitney & Company Realty Limited, Brokerage
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