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-s...econdary 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.
Full Property Details
General
Business Type
-
Office Area
17000.00 Sq Ft
Total Area
17000.00 Square Feet
Sprinklers
Yes
Drive-In Level Shipping Doors
-
Double Man Shipping Doors
-
Grade Level Shipping Doors
-
Truck Level Shipping Doors
-
Business Type
-
Office Area
17000.00 Sq Ft
Total Area
17000.00 Square Feet
Sprinklers
Yes
Drive-In Level Shipping Doors
-
Double Man Shipping Doors
-
Grade Level Shipping Doors
-
Truck Level Shipping Doors
-
Interior
Washrooms
0
Heating Fuel
Gas Forced Air Closed
Air Conditioning
Yes
Washrooms
0
Heating Fuel
Gas Forced Air Closed
Air Conditioning
Yes
Exterior
Depth
265.68
Front
67.42
Lot Size
67 x 265.68 ft
Parking Spaces
-
Total Parking Spaces
-
Parking Description
None
Garage Spaces
-
Zoning
Downtown Zone 1 (DT1) & Downtown Zone 2 (DT2)
Depth
265.68
Front
67.42
Lot Size
67 x 265.68 ft
Parking Spaces
-
Total Parking Spaces
-
Parking Description
None
Garage Spaces
-
Zoning
Downtown Zone 1 (DT1) & Downtown Zone 2 (DT2)
Building Description
Home Type
Commercial
Subtype
Office
Sewers
Sanitary+Storm
Water Supply
Municipal
Possession Date
No Data
Home Type
Commercial
Subtype
Office
Sewers
Sanitary+Storm
Water Supply
Municipal
Possession Date
No Data
Community
Community
East of Sir John A. Blvd
Community
East of Sir John A. Blvd
Taxes & Fees
Taxes
$35,318.14 /yr
Tax Year
2025
Occupancy
Tenant
Taxes
$35,318.14 /yr
Tax Year
2025
Occupancy
Tenant
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