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385 Princess St 17,000 SF Office Building Kingston, ON K7L 1B9 $4,950,000 CAD ($291.18 CAD/SF)
Executive Summary
Rare opportunity to acquire a fully leased, income-producing commercial asset in the heart of Downtown Kingston's vibrant "Hub" district. 385
Princess Street is a 17,000 SF, two-storey building situated on a 15,941 SF lot, 100% occupied by Queen's University - one of Canada's most
prestigious post-secondary institutions. Tenants include Smith Engineering and the Health Sciences Office of Professional Development and
Educational Scholarship, providing an exceptional covenant and stable long-term cash flow. The building was extensively renovated following
its 2020 acquisition, featuring modern open-concept workspaces, enclosed offices, conference facilities, and 24 hour on-site parking spaces
accessible from Queen Street. Zoned Downtown Zone 1 & 2 (DT1/DT2), the site also presents significant future redevelopment potential for a
12-storey, mixed-use project with residential and commercial uses, accessible from both Princess and Queen Streets. Walk Score of 100 with
direct transit access and less than 1 km to Queen's University campus.
Princess Street is a 17,000 SF, two-storey building situated on a 15,941 SF lot, 100% occupied by Queen's University - one of Canada's most
prestigious post-secondary institutions. Tenants include Smith Engineering and the Health Sciences Office of Professional Development and
Educational Scholarship, providing an exceptional covenant and stable long-term cash flow. The building was extensively renovated following
its 2020 acquisition, featuring modern open-concept workspaces, enclosed offices, conference facilities, and 24 hour on-site parking spaces
accessible from Queen Street. Zoned Downtown Zone 1 & 2 (DT1/DT2), the site also presents significant future redevelopment potential for a
12-storey, mixed-use project with residential and commercial uses, accessible from both Princess and Queen Streets. Walk Score of 100 with
direct transit access and less than 1 km to Queen's University campus.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Building Size
17,000 SF
Building Class
B
Year Built
1992
Price
$4,950,000 CAD
Price Per SF
$291.18 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
8,500 SF
Building FAR
1.30
Lot Size
0.30 AC
Zoning
C1 & C1-2
Parking
34 Spaces (2 Spaces per 1,000 SF Leased)
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Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
70/100
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385 Princess St
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