663 Victoria St N
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663 Victoria St N
17,736 SF Retail Building Kitchener, ON N2H 5G3 For Sale
Executive Summary
663 Victoria Street South, Kitchener, presents an exceptional investment opportunity in the form of NUUD – a newly built, modern 92-unit purpose-built rental building exclusively featuring studio units. Constructed in 2021 with innovative design and high-quality finishes, NUUD offers a blend of affordability, flexibility, and location, making it an attractive option for investors in the thriving Kitchener market.
Strong Income:
With a gross rental income exceeding $1.82 million annually, NUUD offers investors a stable revenue stream from day one. This income security provides an advantageous foundation for future value growth.
No Rent Control – Complete Flexibility:
Exempt from Ontario's rent control regulations due to its recent construction, NUUD gives owners the freedom to adjust rental rates in response to market demands. This flexibility allows for optimizing returns and capitalizing on the growing rental market in Kitchener.
Premier Property Management:
Managed by Domus Inc., a leading property management firm with an 18-year track record, NUUD benefits from professional oversight that focuses on tenant care, transparency, and operational excellence. Domus manages over $500 million in multi-residential assets, bringing a wealth of experience to this asset.
Expertly Built and Positioned:
Developed by Eight Loop with over 45 years of real estate expertise, NUUD was meticulously designed by a seasoned engineer to ensure quality and durability. Its prime location places it within proximity to leading tech companies, including Google, Oracle, and Shopify, catering to the influx of young professionals seeking modern, convenient housing.
Innovative Living Spaces:
NUUD offers fully furnished studio units, designed to meet the needs of nomadic professionals. The efficient layouts provide flexible, low-maintenance living, reducing vacancy risk and attracting a stable tenant base. The included furnishings significantly reduce turnover costs, enabling swift transitions between tenants and allowing you to quickly recapture market rents.
Flexible Exit Strategy – Condo-Titled for Future Sale:
Each unit at NUUD is condo-ready, offering investors a versatile exit strategy. With current condo prices in Kitchener exceeding $400,000, a projected 5% annual appreciation suggests a building valuation of over $43 million by 2027, providing significant potential for future capital gains.
Strong Income:
With a gross rental income exceeding $1.82 million annually, NUUD offers investors a stable revenue stream from day one. This income security provides an advantageous foundation for future value growth.
No Rent Control – Complete Flexibility:
Exempt from Ontario's rent control regulations due to its recent construction, NUUD gives owners the freedom to adjust rental rates in response to market demands. This flexibility allows for optimizing returns and capitalizing on the growing rental market in Kitchener.
Premier Property Management:
Managed by Domus Inc., a leading property management firm with an 18-year track record, NUUD benefits from professional oversight that focuses on tenant care, transparency, and operational excellence. Domus manages over $500 million in multi-residential assets, bringing a wealth of experience to this asset.
Expertly Built and Positioned:
Developed by Eight Loop with over 45 years of real estate expertise, NUUD was meticulously designed by a seasoned engineer to ensure quality and durability. Its prime location places it within proximity to leading tech companies, including Google, Oracle, and Shopify, catering to the influx of young professionals seeking modern, convenient housing.
Innovative Living Spaces:
NUUD offers fully furnished studio units, designed to meet the needs of nomadic professionals. The efficient layouts provide flexible, low-maintenance living, reducing vacancy risk and attracting a stable tenant base. The included furnishings significantly reduce turnover costs, enabling swift transitions between tenants and allowing you to quickly recapture market rents.
Flexible Exit Strategy – Condo-Titled for Future Sale:
Each unit at NUUD is condo-ready, offering investors a versatile exit strategy. With current condo prices in Kitchener exceeding $400,000, a projected 5% annual appreciation suggests a building valuation of over $43 million by 2027, providing significant potential for future capital gains.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
17,736 SF
Year Built
1972
Tenancy
Single
Number of Floors
1
Parking
80 Spaces (4.51 Spaces per 1,000 SF Leased)
Frontage
163 ft on Victoria St N
Amenities
- Freeway Visibility
Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (71)
Nearby Major Retailers
1 of 5
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663 Victoria St N
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