385 Princess Street

Original Remarks

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.