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For Sale · Multifamily

115 VICTORIA STREET N, Kitchener

115 VICTORIA STREET N, Kitchener, ON N2H5C3

$1.4M total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

85%

About this property

Prime development site in downtown Kitchener's Central Station, directly on Victoria Street North between King Street West and Weber Street West - the corridor anchoring the Kitchener Central Transit Hub. The site sits within the Urban Growth Centre and Mixed Use Corridor designation, with as-of-right zoning supporting high-density mixed-use development. The MTSA framework targets 160 people and jobs per hectare, and the area is already seeing proposals ranging from 25 to 42 storeys. The Kitchener Central Transit Hub - connecting ION light rail, GO Transit, VIA Rail, and Grand River Transit - is under construction with substantial completion targeted for 2030. Victoria Street is being reconfigured with transit priority lanes, separated cycling, and wider sidewalks, with construction beginning in 2027.This is a rare opportunity to assemble or hold land in a transit-oriented corridor before the hub opens and the surrounding density vision is realized. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.43M
Down payment30% · $428K
Interest rate6.25%
Amortization25 years
Occupancy85%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$56K

Annual cash flow

$-23K

Cash-on-cash

-5.34%

DSCR

0.71

Going-in cap

3.94%

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

51,279

Households

17,917

Median income

$84,500

Median age

39.7

Daytime population

83,275

5-yr growth

9.3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 115 VICTORIA STREET N, Kitchener.

NDA required

  • 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.