545 King St N

CBRE Southern Ontario Investment Team is pleased to offer for sale, 545 King Street, 425 & 480
Conestogo Road West (the “Offering” or “Sites”) a ±4.25 acre investment portfolio in an emerging high
density node of Waterloo.
545 King Street is a ±2.55 acre parcel currently improved with a ±24,357 SF used car dealership.
425 Conestogo Road West encompasses ±0.83 acres and currently features a ±5,800 SF used car
dealership. 480 Conestogo Road is a ±0.87 acre lot and has been designated as Business Employment
Development lands. All 3 properties are currently leased to Waterloo Fine Cars Inc. (Honda Dealership).
545 King Street has substantial potential for intensification as exemplified by a preliminary conceptual
design that indicates a development yield of ±615,093 SF comprising 580 residential suites.
The Property is located in north Waterloo at the intersection of King Street North and Conestogo
Boulevard, an amenity-rich node in proximity to the LRT, a highly convenient location for regional
commuters. Northbound and southbound bus routes and the LRT system are available steps from
Conestoga Mall, which is directly across King Street from the Site. The Conestoga Parkway and big-box
retail are adjacent to the Site, while major employment nodes such as the Idea Quarter, David Johnston
Research & Technology Park, University of Waterloo, and Northland Business Park are a short drive.
The Canadian head office for Manulife is 1 km south of the Property. A new Farm Boy grocery store is
south of the Site and adjacent to Wildcraft Grill & Long Bar, a regionally popular fine dining restaurant.
The CMHC vacancy rate was 1.2% in the City of Waterloo as of October 2022, while the average
detached new home price in Waterloo Region was $907,000 for April 2023. The demand for rental and
condominium product has been exceptional in Kitchener-Waterloo, a highly constrained market with
recent condominium launches in the Kitchener-Waterloo area achieving in excess of $1,000 PSF