280 Lester Street Unit 116, Waterloo

Living area: 558 square feet
Type: Commercial
Added: 3 weeks ago
Updated: 2 weeks ago
Last Checked: 2 hours ago
Listed by: Royal LePage Wolle Realty
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Listing description
This Commercial listing at 280 Lester Street Unit 116 Waterloo, ON with the MLS Number 40759992 listed by JAFAR KONOODI - Royal LePage Wolle Realty on the Waterloo market 3 weeks ago at $649,000.

This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest? - Long-term, escalating lease in place - Low operational burden - Strong rental growth outlook - Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation (id:1945)

Property Details Key information about 280 Lester Street Unit 116

Exterior Features: Concrete

Interior Features Discover the interior design and amenities

Basement: None

Exterior & Lot Features Learn about the exterior and lot specifics of 280 Lester Street Unit 116

Water Source: Municipal water

Utilities & Systems Review utilities and system installations

Sewer: Municipal sewage system

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Nearby Listings Stat Estimated price and comparable properties near 280 Lester Street Unit 116

Active listings

613

Min Price

Max Price

$10,980,000

Avg Price

$698,741

Days on Market

56 days

Sold listings

198

Min Sold Price

$149,999

Max Sold Price

$1,999,999

Avg Sold Price

$628,224

Days until Sold

62 days

Nearby Places Nearby schools and amenities around 280 Lester Street Unit 116

Saint David Catholic Secondary School (1.1 km)
4 High St, Waterloo

Waterloo Collegiate Institute (0.5 km)
300 Hazel St, Waterloo

Wilfrid Laurier University (0.6 km)
75 University Ave W, Waterloo

University of Waterloo (0.8 km)
200 University Ave W, Waterloo

St Jerome's University (1.1 km)
Waterloo

St. Paul's University College (1.2 km)
190 Westmount Rd N, Waterloo

Renison College (1.2 km)
240 Westmount Rd N, Waterloo

Burrito Boyz (0.9 km)
258 King St N, Waterloo

Conrad Grebel University College (1.3 km)
140 Westmount Rd, Waterloo

Price History

Listed

August 14, 2025

by Royal LePage Wolle Realty

Commercial For Sale

$649,000

280 Lester Street Unit 116, Waterloo

Listing description This Commercial listing at 280 Lester Street Unit 116 Waterloo, ON with the MLS Number 40759992 listed by JAFAR KONOODI - Royal LePage Wolle Realty on the Waterloo market 3 weeks ago at $649,000.

Nearby Listings Stat Estimated price and comparable properties near 280 Lester Street Unit 116

Nearby Places Nearby schools and amenities around 280 Lester Street Unit 116

Price History

Similar Commercial Listings For Sale

Listing description
This Commercial listing at 280 Lester Street Unit 116 Waterloo, ON with the MLS Number 40759992 listed by JAFAR KONOODI - Royal LePage Wolle Realty on the Waterloo market 3 weeks ago at $649,000.