385 Princess Street, Kingston, ON K7L 1B9, Kingston, ON
17000.0 sqft
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.
Property Highlights
For Sale
MLS NO.
X13081484
Type
Commercial
Sub Type
Office
Square Footage
17000.0 sqft
Complete Property Details
Property Type
Commercial
Sub Type
Office
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
X13081484
Security Features
Yes
Lot Width
67.42
Lot Size
0.37
Lot Size Units
Acres
Garage Type
None
Cooling
Yes
Heat Type
Gas Forced Air Closed
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
385 Princess Street, Kingston, ON K7L 1B9
City
Kingston
Neighbourhood
22 - East of Sir John A. Blvd
County / Region
Frontenac
Province / State
ON
Postal Code
K7L 1B9
Cross Street
Princess St & Barrie St
Directions
North side of Princess Street between Division Street and Barrie Street
Country
CA
List Price
$4,950,000
Annual Taxes
$35,318
Tax Year
2025
Legal Description
LT 40 RCP 1642 KINGSTON CITY; KINGSTON ; THE COUNTY OF FRONTENAC
Possession Type
Immediate
Possession Details
Immediate
Listing Office
CUSHMAN & WAKEFIELD
Board
Toronto Regional Real Estate Board
Original Entry
2026-05-04T22:14:08Z
Media Updated
2026-05-04T22:14:09Z
Photos Updated
2026-05-04T22:14:09Z
Last Modified
2026-05-06T13:00:40Z
System Modified
2026-05-06T13:00:40.992246Z
MLS Status
New
Basement Yn
Yes
Co List Office Name
CUSHMAN & WAKEFIELD
Ddfyn
No
Expiration Date
2026-09-30
Heat Type Multi
Gas Forced Air Closed
Hstapplication
In Addition To
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
360500201
Parking Spaces
24
Public 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.
