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$3,500,000
Status: For Sale
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.
| Property Type | :Commercial Sale |
|---|---|
| MLS Number | :40676991 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :25 Feb, 2025 (24 Days ago) |
| Source | :Waterloo Region |
| Area | :Waterloo |
|---|---|
| City | :Kitchener |
| Area Major | :3 - Kitchener West |
| Area Minor | :313 - Downtown Kitchener/West Ward |
| Postal Code | :
N2G 1A1
|
| Directions | :King Street between Ontario St S and Queen St S |
| Price | : $3,500,000 |
|---|---|
| Property Taxes | :$60124.52 |
| Tax Year | :2024 |
|---|
| Approx Square Footage | :12988 sqft |
|---|
24 Feb, 2025
TREB #40676991
Price Change
$3,500,000
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