1/4983* KING STREET E, Kitchener
983* KING STREET E, Kitchener, ON N2G2R2
$5.0M total
—
Asset Class
Land
Size
—
Building class
C
Zoning
UR — Urban Reserve
$ / SF
—
Occupancy
85%
Lot Size
0.64 ac
About this property
This assembly of five properties in a rapidly expanding area of Kitchener offers a rare opportunity for high-density residential development, spanning 0.64 acres of MU-3 zoned land. The site is strategically located between two similar developments and bordered to the west by the Light Rail Transit (LRT) system on Charles St. E. Pre-consultations with city planners and regional precedents indicate the potential for increased density through higher Floor Area Ratio (FAR) and Gross Floor Area (GFA) allowances. With frontage on King, Borden, and Charles streets, the property offers exceptional access. Preliminary site plan modeling suggests approval for approximately 304 units in a single tower configuration. The accompanying photos highlight the property's boundaries and the potential high-rise development. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$23K
Projected NOI
$175K
Annual cash flow
$-102K
Cash-on-cash
-6.81%
DSCR
0.63
Going-in cap
3.50%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Area demographics
Trade area within 3 miles of the property.
Population
90,402
Households
38,215
Median income
$104,500
Median age
33.5
Daytime population
106,750
5-yr growth
1.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 983* KING STREET E, Kitchener.
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.