205-209 Erb Street
Waterloo, ON
- 0.89 sqft
- Investment
- 402 days on market
This land assembly, totaling 0.89 acres, presents a compelling development potential opportunity with 3 existing income-generating properties situated in the heart of Waterloos energetic uptown core. In 2024, a development concept was brought forward to the City of Waterloo, outlining a 12-story residential apartment building with 129 units. The plan includes 17 parking spaces located at grade behind the building, complemented by additional underground parking whose quantity has yet to be specified. The project adheres to the area's zoning regulations and complies with both the Official Plan and applicable Zoning By-Laws, including matching the scale and height of surrounding developments. This prime location lies within one of Waterloos most desirable neighborhoods and falls inside the Willis Way Protected Major Transit Station Area (PMTSA), where minimum parking requirements are waived under Bill 185. The vision for the residential development centers around connected urban living, offering future residents immediate access to restaurants, boutiques, entertainment, and cultural attractions. With nearby schools, green spaces, institutions, and modern infrastructure enhancements, this site is exceptionally well-positioned to benefit from long-term growth, sustained demand, and increasing value. The seller and their representative make no guarantees about the property's future use or development potential regardless of any of the favorable information noted. The buyer is fully responsible for investigating all current and future matters related to the property and future development. Image of the 12 story building in the listing is merely a virtual rendering to help give some perspective on what may be possible.
Listing Details
- Taxes (2025)
- $15,936
- Originally Listed
- $10,980,000
- Listed
- July 25, 2025
Price History
Listing history
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Property
- Lot Size
- 130.62 x 287.57 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- ERB ST W/WESTMOUNT RD S.
- Zoning
- RMU-40
- Parcel Number
- 224080010
- Possession
- Flexible
- Occupancy
- Tenant
Community
Postal area N2L
- Population
- 37,953
- Private dwellings
- 19,681
- Median age
- 29.8
- Average household size
- 2.2
- Median household income
- $69,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Waterloo · last 12 months
- Median sold price
- $692,500
- Homes sold
- 1,035
- Median days on market
- 21
- Sale-to-list price
- 99.8%
Based on 1,035 recorded sales of commercial properties in Waterloo over the last 12 months.
Listed by
CENTURY 21 B.J. ROTH REALTY LTD.
Walk Score
Walk
Transit
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Scores by Walk Score®
Location
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Commercial figures
- Annual property tax
- $15,936
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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