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$ 1,475,000
Est. payment /mo
Active
79-81 Queen ST Kingston, ON K7K 1A5
2,785 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2,785 sqft
Price per Sqft $529
Subdivision 22 - East Of Sir John A. Blvd
MLS Listing ID X13668718
Annual Tax Amount $6,912
Tax Year 2026
Property Sub-Type Investment
Property Description
Welcome to 79-81 Queen Street, a landmark limestone investment property in the heart of downtown Kingston. Built circa 1840 and rich with historic character, this stately building pairs timeless limestone construction and exposed brick interiors with an exceptional location just steps from the waterfront, Queen's University, Kingston General Hospital, shops, restaurants and cultural attractions. The property offers four residential units, each separately metered to help keep operating costs low, with appliances included in every unit, dishwashers in two and in-suite laundry in one. Current monthly rents are Unit 79-1 at $1,495 beginning September 2026, Unit 79-2 currently offered for lease at $1,795, Unit 81-1 at $1,700 month-to-month and Unit 81-2 at $1,995 beginning August 2026. An exceptional downtown asset, the property also includes 10 coveted parking spaces with the potential to generate an additional $1,000 per month. Based on current projected rents and parking income, the property offers gross annual income of $95,820 and net operating income of approximately $75,780. Its strong rental history reflects the consistent demand for distinctive downtown accommodations, while the large lot may offer future expansion possibilities, including additional units or an addition to the existing building, subject to municipal approvals. The apartments also present value-add potential through cosmetic improvements and future rent growth. With its irreplaceable limestone character, strong projected income, low operating-cost structure, substantial parking and potential for further growth, 79-81 Queen Street is a rare opportunity to acquire a distinguished piece of Kingston's heritage in one of the city's most walkable and sought-after locations.
Location
Province ON
County Frontenac
Area Frontenac
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 34.0
Lot Depth 132.0
Building
Building Age 100+
Others
ParcelsYN No
Virtual Tour https://youriguide.com/79_queen_st_kingston_on
Listed by RE/MAX FINEST REALTY INC., BROKERAGE
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