142-146 Fergus Avenue, Kitchener For Sale 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.
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Don’t miss out Prime Development Opportunity in Waterloo!
Register NowIntroducing 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.
📍 142-146 Fergus Avenue, Kitchener, ON
💰 Offered at: $3,388,888
📐 Site Area: 0.96 Acres | 🔧 Zoning: R3
📆 Possession: May 13, 2025
✅ 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.
300 Richmond St W #300, Toronto, ON M5V 1X2
inquiries@Condoy.com
(416) 599-9599
We are independent realtors® with Home leader Realty Inc. Brokerage in Toronto. Our team specializes in pre-construction sales and through our developer relationships have access to PLATINUM SALES & TRUE UNIT ALLOCATION in advance of the general REALTOR® and the general public. We do not represent the builder directly.
