REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 4,950,000
Est. payment | /mo
$ 4,950,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Subdivision 22 - East Of Sir John A. Blvd
MLS Listing ID X13081484
Annual Tax Amount $35,318
Tax Year 2025
Property Sub-Type Office
Property Description
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 its2020 acquisition, featuring modern open-concept workspaces, enclosed offices, conference facilities, and 24 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.
Location
Province ON
County Frontenac
Area Frontenac
Zoning Downtown Zone 1 (DT1) & Downtown Zone 2 (DT2)
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 67.42
Lot Depth 265.68
Others
Security Features Yes
ParcelsYN No
Listed by CUSHMAN & WAKEFIELD
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "