2 baths25 parking3,400 ft²68 × 128 ft (8,738 sq ft) lot sizeListed 27 days ago
Overview
This retail property in Kitchener is for sale offering roughly 3,400 sq ft of space. It has been on the market 27 days, fresher than the Kitchener average of 53 days.
AUTO CAR & SALES DEALERSHIP FOR SALE! Excellent opportunity to own a UNIQUE MIXED-USE AUTOMOTIVE property in a central Kitchener location, just minutes from Highways 7, 8 and 401. Current uses include AUTOMOTIVE SALES, SERVICE, AUTOBODY AND REPAIRS, operating as a legal non-conforming use. An excellent opportunity for an AUTOMOTIVE OPERATOR, OWNER-USER or INVESTOR seeking an established property with significant improvements and additional rental income. The property offers approximately 3,400 sqf. of Commercial/Shop space plus an approximately 1,200 sq. ft. Upper-Level Unit, situated on a 7,610 sqf lot.The main level offers approx 2,200 sqf. including a Showroom with 2 Bay Doors and capacity for up to 4 vehicles, along with an office/customer seating/waiting area. The Rear Garage includes an additional Bay Door and hoist, with space for 2 additional vehicles. The property features a highly functional Automotive setup with a parking/display area accommodating approximately 20-25 vehicles. Extensively improved over the years, upgrades include a commercial electrical system and exterior meter, updated water and gas lines, new water meter and backflow prevention device, along with improvements to the rear shop ceiling completed in connection with fire inspection requirements. The approximately 1,200 sq. ft. Upper-Level Unit has been fully renovated, including updated electrical/ water lines, kitchen, bathroom, flooring, heating,doors, together with a water softener/filtration system.The commercial space and upper -unit is occupied by a long-standing tenant on a FLEXIBLE-TERM LEASE, providing FLEXIBILITY FOR CONTINUED RENTAL INCOME OR POTENTIAL FUTURE OWNER OCCUPANCY. A unique opportunity to acquire an established automotive property combining business functionality, excellent vehicle capacity, multiple income streams, substantial improvements and a convenient central Kitchener location. (id:66096)
Property Details
MLS®
X13875696
Property Type
Retail
Business Type
Automobile
Zoning
R5
Bathrooms
2
Parking
25
Interior Size
3,400 ft²
Lot Size
68 × 128 ft (8,738 sq ft)
Frontage
68 ft
Heating
Forced air, Natural gas
Cooling
None
Garage
Other
Property Tax
$9,837.1/yr
Listed
27 days ago
Features
Appliances
Alarm System
Services
Water
Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Days on market
27d
Kitchener listings, avg age
53d
Price / ft²
$390
List price
$1.32M
Extended: 27 days on market, against an average age of 53 days across the listings currently for sale in this city
Market timing · days on market0 → 53d avg age of current listings
Extended · day 27
Homes here sell faster than most markets
Sold homes in this market spent an average of 31 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell close to asking price
Homes in this market sold for an average of 100.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
Haho
This retail in Kitchener has been listed for 27 days, which is 26 days fresher than the city average of 53. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
Nearby Places
Area context
Neighbourhood profile (N2H)
This home lists at $1,325,000, about 18.0× the local median household income of $73,500.
Carrying it typically needs a household income of about $258,819 (20% down, 25-yr amortization, stress-tested) — roughly 252% above the area median.
Median household income
$73,500
Population
22,456
Median age
38.4
Owner / renter
49% / 51%
Avg. household size
2.1
Source: Statistics Canada, 2021 Census (FSA N2H)
$1,325,000· $390/ft²
For sale
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