About 280 Lester Street 116
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
Features of 280 Lester Street 116
| MLS® # | 40759992 |
|---|---|
| Price | $649,000 |
| Bathrooms | 0.00 |
| Acres | 0.00 |
| Type | Commercial Sale |
| Sub-Type | Mixed,Building and Land |
| Status | Active |
Community Information
| Address | 280 Lester Street 116 |
|---|---|
| Area | 4 - Waterloo West |
| Subdivision | 417 - Beechwood/University |
| City | Waterloo |
| County | Waterloo |
| Province | ON |
| Postal Code | N2L 3W5 |
Amenities
| # of Garages | 0.00 |
|---|---|
| Is Waterfront | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | Yes |
| Basement | None |
Exterior
| Lot Description | Business Centre |
|---|---|
| Construction | Concrete |
Additional Information
| Date Last Updated | October 22nd, 2025 |
|---|---|
| Zoning | NMU-8 |
| HOA Fees | 549.86 |
| HOA Fees Freq. | Monthly |
Listing Details
| Office | Royal LePage Wolle Realty |
|---|