Prime Investment Opportunity in Kitchener – Purpose-Built Rental or JV Project

Description:

142-146 Fergus Avenue, Kitchener, ON
Offered at: $3,690,000
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 – 647-370-7654

Exclusively Listed by
HOME LEADER REALTY INC., Brokerage
300 Richmond St West, #300, Toronto ON
MLS#: X2145095

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