$4,999,500

For sale

617 KING Street North, Waterloo - Retail for Sale

617 KING Street North, Waterloo, Ontario, N2V2N3

16,000 ft²Listed 12 days ago

Overview

This retail property in Waterloo is for sale offering roughly 16,000 sq ft of space. It has been on the market 12 days, fresher than the Waterloo average of 67 days.

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Description

VTB possible. Beautiful Banquet Hall approx. 15,500 sf building sitting on Approx. 1.50 acres with 4 halls (no kitchen/restaurant, but space available to add). Banquet Hall fully renovated last year. 75+ parking spaces. Banquet hall rooms renting on daily base and upcoming bookings already reserved. Site an also be looked at as a redevelopment as it’s located in one of the most vibrant nodes of the region. Prime location with very large frontage on the main road and 3 entrances from main road. Large residential unit on second floor with separate entrance (can easily become 3 res units), 5 rooms, 2.5 bathrooms and kitchen with large dinning/lounge area. 1KM from highway 85. Located 500m down the street form Conestoga Mall and surrounded by all major retailers, hotels and big-box stores. VTB available up to 65% with flexible open terms. C5-81 Zoning allows most all retail uses if the current use is not of use to you. Current owner is retiring. MANY USES ARE POSSIBLE HERE. EVERYTHING FROM HOTEL TO COMMERCIAL SCHOOL AND FUNERAL HOME (AND MANY IN-BETWEEN) (id:66096)

Property Details

MLS®: 40873489
Property Type: Retail
Zoning: C5-81
Interior Size: 16,000 ft²
Frontage: 224 ft
Building Area: 16,000 ft²
Storeys: 1
Basement: None
Ownership: Freehold
Property Tax: $79,000/yr
Listed: 12 days ago

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

12d

Waterloo listings, avg age

67d

Price / ft²

$312

List price

$5.00M

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.

Homes here sell close to asking price

Homes in this market sold for an average of 98.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This retail in Waterloo has been listed for 12 days, which is 55 days fresher than the city average of 67. Act while there is still low competition.

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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 (N2V)

This home lists at $4,999,500, about 39.7× the local median household income of $126,000.

Carrying it typically needs a household income of about $976,577 (20% down, 25-yr amortization, stress-tested) — roughly 675% above the area median.

Median household income: $126,000
Population: 19,428
Median age: 38
Owner / renter: 86% / 14%
Avg. household size: 3.1

Source: Statistics Canada, 2021 Census (FSA N2V)

$4,999,500· $312/ft²

For sale

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Financing

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