About this property

A rare opportunity to acquire a prominent King Street address in the heart of Waterloo, anchored by an existing 10-storey residential building with a proven rental history. Strategically located within walking distance to the University of Waterloo, Wilfrid Laurier University, and Conestoga College Waterloo Campus, this property sits in one of the region's most desirable rental corridors, surrounded by constant demand from students, professionals, and urban residents. Built in 2009, the existing building has remained fully rented since completion, offering investors immediate in-place income, stability, and long-term holding value in a high-growth market. The additional upside makes this opportunity truly exceptional. The same lot benefits from approved zoning for a 14-storey condominium development, allowing for a total project of 123 condominium apartments with a mix of one, two, and three-bedroom units. This gives the purchaser the rare ability to secure strong existing cash flow today while unlocking significant future development potential. For builders, developers, and strategic investors, the groundwork has already been advanced. A full team of architects, planners, and builders is available and ready to assist with execution, if required. This is more than a development site. It is an income-producing asset with a clear path to growth in one of Waterloo's strongest urban locations.

Features & finishes

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Air Conditioning

Basement

Property details

MLS® Number	X13604606
Status	Active
Listing Type	For Sale
Property Type	Commercial
Interior Size	28,438 sq ft
Beds / Baths	0 bed · 0 bath
City	Waterloo
Postal Code	N2J 2W6
Province	ON
Listed Date	July 24, 2026
Days on Market	13
Price per Sq Ft	$523
Brokerage	RE/MAX REALTY SPECIALISTS INC.