280 LESTER Street Unit# 116

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For Sale - $719,999.00

ID#: 28390075

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 (id:42870)

Property Details

Property Address: 280 LESTER Street Unit# 116 Waterloo, Ontario, N2L3W5

Property Type: Other

Area Toal: 558 sqft

Waterfront: No

Pool: No

Garage: No


Representative

Bess Assimacopoulos-Markou

Sales Representative

RE/MAX Twin City Realty Inc. Brokerage* - Waterloo

Cell: 519-588-1834

Tel: 519-885-0200

Schedule a Showing