$1,100,000 - 476 Victoria Street, Kingston
Commercial for Sale in Kingston
Neighbourhood: 14 - Central City East
- MLS Number
- X13452888
- Property Type
- Commercial
- Status
- active
- Days on Site
- 20
- Bedrooms
- 0
- Bathrooms
- 1
- Square Feet
- 2,236 sqft
- Neighbourhood
- Kingston
- Listing Brokerage
- RE/MAX FINEST REALTY INC., BROKERAGE
Rare opportunity to own a leased 6-bedroom, 4-bathroom investment property in the heart of Kingston's sought-after Queen's University district. Offering over 2,200 square feet above grade, this red brick century home stands apart from the typical student rental with generous bedrooms, multiple common living spaces, and enough bathrooms to create a comfortable living experience. Character features include original hardwood floors, rich wood trim, exposed brick accents, high ceilings, and large windows. The main floor offers a spacious living room, separate dining room, large kitchen, mudroom, powder room, and a sizeable bedroom. The second floor features two large bedrooms, an oversized primary bedroom, and a full family-sized bathroom rarely found in student housing. The third floor provides two additional bedrooms and another bathroom, offering separation and privacy. What truly sets this property apart is that accommodating six tenants doesn't feel like a sacrifice. The bedrooms comfortably fit beds, desks, and additional furniture, while the common areas provide room to study, relax, and socialize without feeling crowded. Combined with four bathrooms, the layout creates a living environment tenants genuinely enjoy, helping support strong demand. Outside, the property offers a detached garage, private driveway parking, covered front porch, and rear deck. Located within walking distance of Queen's University, Kingston General Hospital, downtown restaurants and shops, transit routes, parks, and waterfront amenities, the location attracts student renters. Currently leased until April 30, 2027 and generating $6,432 per month plus utilities, this turn-key investment provides immediate income and stable cash flow in one of Kingston's proven rental markets. An exceptional opportunity for investors, Queen's alumni, or parents seeking a property that combines strong returns, enduring character, and a comfortable student living experience.
Estimate your monthly payments for this property
Estimated Payment
$4,865.67/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover 14 - Central City East
14 - Central City East is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in 14 - Central City East
- •Convenient location in Kingston
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
14 - Central City East offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
476 Victoria Street, Kingston
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
Key factors for evaluating this commercial property
Commercial Due Diligence Checklist
· Verify zoning and all permitted uses
· Review all existing leases (terms, renewals, net vs. gross)
· Request estoppel certificates from all tenants
· Order a Phase 1 Environmental Site Assessment
· Commission a property condition assessment
· Review operating costs (taxes, insurance, maintenance)
Commercial Financing Note
Commercial mortgages require 20–35% down, shorter amortization, and lenders underwrite based on the property's income. CMHC insurance is not available for commercial. Connect with a commercial mortgage broker early.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Commercial Pricing Context
At $492/sqft, this is priced in the upper range for GTA commercial — typical for prime locations or newer buildings. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Commercial Market Pace
Commercial real estate transactions typically take 60–120 days from offer to close — longer than residential — due to financing conditions, environmental reports, and tenant estoppel reviews. This 20-day listing is within normal commercial market exposure.
Zoning & Permitted Use — Verify First
I always confirm the zoning and permitted uses before a client gets too far into a commercial transaction. What a property is currently used for and what it's legally permitted for are sometimes different. If you plan to change the use, a zoning amendment or minor variance may be required — that's additional cost, time, and risk.
Tenancy & Income Review
If this property has existing tenants, I'd want to review all leases carefully: term lengths, renewal options, rent amounts, escalation clauses, and who's responsible for operating costs (gross lease vs. net lease). A strong long-term tenant is an asset; a lease expiring at closing is a different story. We'll request estoppel certificates from all tenants.
Environmental & Due Diligence
A Phase 1 Environmental Site Assessment is standard practice for commercial purchases in Ontario. If historical industrial use is flagged, you'll need a Phase 2. I also recommend a property condition assessment covering structure, roof, HVAC, and electrical — commercial systems are expensive to replace and often not disclosed in detail on the listing.
Commercial Financing Realities
Commercial mortgages work differently than residential. Expect 20–35% down, shorter amortization (15–25 years), and lenders who underwrite based on the property's income, not just your personal financials. CMHC insurance is generally not available for commercial, and rates are typically higher. I can connect you with commercial mortgage brokers who specialize in Kingston transactions.