$7,995,000

For sale

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575 RIVERBEND Drive, Kitchener - Office for Sale

575 RIVERBEND Drive, Kitchener, Ontario, N2K3S3

37,000 ft²3.30 acres lot sizeListed 133 days ago

Overview

This office property in Kitchener is for sale offering roughly 37,000 sq ft of space.

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Description

UP TO 30% VTB AVAILABLE FOR APPROVED BUYER. 37,000sf OFFICE BUILDING LOCATED BETWEEN 2 HWY EXITS. EXPRESSWAY VISABILITY. Drive-in door onsite. Ideal for Research and Development, Office/Industrial, Tech, Computer electronic and data processing, Lab, certain manufacturing, logistics and transportation possibilities. Additional – Potential for 30,000sf Office or 40,000sf Industrial expansion on the property. 5 minutes to Waterloo, 15 minutes to Guelph and Cambridge. 5/1000 parking. Other uses include - sales center, restaurant, fitness center, yoga studio, printing or publishing establishment, general office users, professional office user plus a variety of Industrial uses. High profile and attractive office building in the Riverbend office node. This attractive gleaming-glass building provides an open floor plan and abundance of natural light. Easy access for employees to be close to restaurants and coffee amenities. Ample onsite parking and an elevator in the building. Scenic views are sure to impress anyone who chooses to make this their future work space. (id:66096)

Property Details

MLS®: 40842828
Property Type: Office
Zoning: B2
Interior Size: 37,000 ft²
Lot Size: 3.30 acres
Frontage: 198 ft
Building Area: 37,000 ft²
Storeys: 2
Basement: None
Ownership: Freehold
Property Tax: $141,449.87/yr
Listed: 133 days ago

Services

Water: Municipal water
Sewer: Municipal sewage system
Utilities: Electricity, Telephone

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

133d

Kitchener listings, avg age

53d

Price / ft²

$216

List price

$8.00M

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

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Listed by RE/MAX TWIN CITY REALTY INC. · TONY JOHAL

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N2K)

This home lists at $7,995,000, about 66.6× the local median household income of $120,000.

Carrying it typically needs a household income of about $1,561,703 (20% down, 25-yr amortization, stress-tested) — roughly 1201% above the area median.

Median household income: $120,000
Population: 29,381
Median age: 40.4
Owner / renter: 82% / 18%
Avg. household size: 2.8

Source: Statistics Canada, 2021 Census (FSA N2K)

$7,995,000· $216/ft²

For sale

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Financing

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