Description

An exceptional opportunity to acquire an infill development site with excellent holding income in the heart of Downtown Kitchener. Prominently positioned on an approximately 0.4 acre corner parcel, 93-99 Benton Street currently generates gross rental income exceeding $200k/yr. The property supports a concept for a striking 13 storey mixed use development comprising 96 residential units, ground floor commercial space and outdoor amenity space. Located just 350 metres from the Queen ION LRT station, the property offers outstanding connectivity with no minimum parking requirement. The Kitchener Market, Victoria Park, multiple restaurants, cafés, cultural destinations and the University of Waterloo Health Sciences Campus are all within walking distance. The Innovation District, home to Google and downtown employment centres, is only minutes away. This is a rare opportunity to secure immediate income and a significant redevelopment project in one of Waterloo Region's most dynamic urban growth areas. Adjoining high density sites at 115 and 119 Benton St. are also available for purchase bringing the total land size to +/- 1.75ac. (id:66096)

Market Timing

Days on market

33d

Kitchener listings, avg age

53d

List price

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 vacant land in Kitchener has been listed for 33 days, which is 20 days fresher than the city average of 53. Act while there is still low competition.

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Area context

Neighbourhood profile (N2G)

Median household income: $62,400
Population: 14,580
Median age: 38
Owner / renter: 31% / 69%
Avg. household size: 1.8

Source: Statistics Canada, 2021 Census (FSA N2G)

For sale

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Financing

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93 Benton Street, Kitchener - Vacant Land for Sale

Description

Property Details

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Market Timing

Location

Nearby Places

Neighbourhood profile (N2G)

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