$4,499,900
Kingston
Brock St & Wellington St. Street, Kingston (Central City East), Ontario, K7L3E1
This retail property in Kingston is for sale offering roughly 18,016 sq ft of space. It has been on the market 23 days, fresher than the Kingston average of 61 days.
In the heart of downtown Kingston, sits this one-of-a-kind, well-conditioned, well-operated historical building. This building has 6 retail storefronts spanning over 6000 sq. ft. on the ground floor, 3 offices on the second floor, and 11 residential apartments on the second and third floors. This historic limestone building has up-to-date security and fire safety features and has been diligently and prudently maintained by the current owners for 5 decades. In today's world of rising rates and economic uncertainty, this investment will add stability and growth to any portfolio. All the retail leases have built-in annual escalation. The residential units have a graduate student demographic for income stability. Approval in place to convert more office to residential. Kingston's downtown is recognized as one of Ontario's best downtowns with over 700 entertainment venues, marinas, city hall, and more, and this property is an integral corner to the community. Within easy walking distance to Queens University, both hospitals, restaurants, banks, and grocery stores, the next owner will hold a piece of Kingston history! This property has good strong income, and good upside for any investor. Full financials available to qualified buyers upon completion of confidentiality agreement. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 23 days on market, against an average age of 61 days across the listings currently for sale in this city
Homes here sell faster than most markets
Sold homes in this market spent an average of 35 days on the market over the past year, against a median of 48 days across the markets we publish.
This retail in Kingston (Central City East) has been listed for 23 days, which is 38 days fresher than the city average of 61. Act while there is still low competition.
This home lists at $4,499,900, about 62.1× the local median household income of $72,500.
Carrying it typically needs a household income of about $878,988 (20% down, 25-yr amortization, stress-tested) — roughly 1112% above the area median.
Source: Statistics Canada, 2021 Census (FSA K7L)
Pick a time that suits you. A verified local agent confirms within 24h.
Commercial lenders price on income, tenancy, and zoning rather than posted rates. Our partner mortgage brokers at iShopRates structure the file and shop lenders for you.
Inquire about financing →