Prime Investment Opportunity In Kitchener – Purpose-built Rental Or Jv

$3,388,888

For Sale: Land in Kitchener, ON

Maziar Moini

Realtor

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Listing Details

Description

📍 142-146 Fergus Avenue, Kitchener, ON 💰 Offered at: $3,388,888 📐 Site Area: 0.96 Acres | 🔧 Zoning: R3 📆 Possession: May 13, 2025 Introducing a rare investment opportunity in the thriving city of Kitchener — a municipally serviced, nearly shovel-ready purpose-built rental site with enormous potential. Strategically located at the corner of Weber Street East and Fergus Avenue, this prime property is ideal for developers targeting the market, affordable, senior, or student housing sectors. ✅ Nearly Approved 88-Unit Development (Potential for 118 Units) ✅ CMHC MLI Select Eligibility – Unlock long-term amortization and favorable financing ✅ Projected $45M Build – Significant future upside with strong market fundamentals ✅ Outstanding Cash Flow Potential – Netting ~$2.2M based on sponsor-rented CMHC proforma ✅ Pro Forma NOI: $2.3M | Cap Rate: 7% Stabilized ✅ As-Is Appraised at $6.8M (July 2024) ✅ Existing GFA: 72,616 SF | Parking: 89 stalls (28 bike spaces) Located just minutes from GO transit, schools, major retail, and employment hubs, this site offers unmatched convenience and long-term value. 📈 Ideal for institutions, REITs, or JV partners seeking long-term stabilized returns in one of Ontario’s fastest-growing urban markets. 🧾 Full due diligence available upon request. 📞 Contact Maziar Moini, Broker of Record – Exclusively Listed by HOME LEADER REALTY INC., Brokerage 300 Richmond St West, #300, Toronto ON 📍 MLS#: X2145095

Location & nearby

This listing is located in Kitchener, ON N2A 2H2

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