318 Spruce Street 102, Waterloo, ON N2L 0E9
Exceptional opportunity to own a prime commercial condominium together with a well-established convenience and vape business in the heart of Waterloo's thriving university district. Whether you're an investor seeking stable rental income or an owner-operator looking to run your own business, this property offers outstanding flexibility and long-term growth potential. Located on the ground floor of Sage 2 Condos, this premium retail unit is just steps from the University of Waterloo and Wilfrid Laurier University. Surrounded by thousands of students and residents, the area has a limited supply of retail space, creating exceptional demand and consistent pedestrian traffic. This attractive 1,824 sq. ft. commercial unit features 15-foot clear ceilings with no interior support columns, providing a bright, open layout with excellent visibility and direct street exposure. The property also includes one underground parking space, one storage locker, a kitchen, and a private washroom, making it suitable for a wide range of retail, food service, medical, professional, or office uses.The owner currently operates a successful convenience store and vape shop, and a liquor licence is available. The purchaser has the flexibility to continue operating the existing business or take vacant possession and establish a new business concept.
- MLS number
- X13574980
- Type
- Store W Apt/Office
- Status
- Active
- Bedrooms
- —
- Bathrooms
- —
- Postal code
- N2L 0E9
- Photos
- 12
- Property tax
- $19,000 / year
This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.
Property details
As filed by the listing brokerage. Anything the board left blank is left out rather than shown as unknown — and none of it is guaranteed accurate by PropTx, so verify what you rely on.
Property
- Type
- Store W Apt/Office
- Class
- Commercial
- Municipality
- Waterloo
- Cross street
- King St N/University Ave E
- Zoning
- Commercial
Parking
- Garage
- Underground
- Driveway spaces
- 1
Land
- Lot
- 0 × 0 feet
Heating, cooling and services
- Heating
- Gas Forced Air Closed
- Cooling
- Yes
- Water
- Municipal
Listing
- MLS number
- X13574980
- Status
- New
- Previous status
- Draft
- Listed on
- 2026-07-16
- Expires
- 2027-01-15
- Taxes
- $19,000 (2025)
- Board
- Toronto Regional Real Estate Board
Listing history
This address has been listed 2 times.
Where this property is
Where this address sits, matched against open government data.
Matched to a published address point for this address.
Schools
The school boundaries this address is inside, and the schools nearest it. Boards redraw boundaries and cap programs — confirm with the board before this affects a decision.
Other schools nearby
By distance from this address, not school boundary — a school 400 m away can be in another school’s attendance area.
| School | Level | Distance | Rating |
|---|---|---|---|
| Waterloo High School | Secondary | 157 m | Not reported |
| Waterloo Collegiate Institute Waterloo Region DSB | Secondary | 312 m | / 10 71% met the standard · 2 of 6 measures |
| St David Catholic Secondary School Waterloo CDSB | Secondary | 610 m | / 10 82% met the standard · 2 of 6 measures |
| MacGregor Public School Waterloo Region DSB | Elementary | 940 m | Not reported |
| Tayba Elementary School | Elementary | 1.0 km | Not reported |
| Winston Churchill Public School Waterloo Region DSB | Elementary | 1.0 km | / 10 78% met the standard |
How the rating is calculated
EQAO — Ontario’s testing agency — publishes, for each school, the percentage of students meeting the provincial standard in Grade 3 and Grade 6 reading, writing and mathematics. The rating is the average of those percentages divided by ten. A school where 72% of students met the standard rates 7.2 out of 10.
Nothing is weighted or adjusted, and schools are not ranked against each other. Where EQAO withholds a result to protect the privacy of a small group of students, that measure is left out rather than counted as zero — so a rating built on fewer than six measures says so.
What it does not measure. It is one year of standardised testing in three subjects. It says nothing about teaching, programs, or whether a school suits a particular child, and it tracks neighbourhood household income closely enough that it partly measures the neighbourhood rather than the school. Treat it as one figure among many.
Source: Ontario Ministry of Education, School Information and Student Demographics (2024–25), Open Government Licence – Ontario.
H-Value
What an H-Value is and how it is calculated — the method and our measured error, no account needed.
This neighbourhood
Statistics Canada 2021 Census, for the surrounding few blocks — about 1,817 people.
The neighbourhood, by the census
Statistics Canada 2021 Census for dissemination area 35300066 — the few blocks around this address, home to 1,817 people. It describes the area, not this property.
Percentages are of the 945 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.
Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.
Work out the numbers
Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.
If you rented it out
How this is calculated, and what it leaves out
Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.
Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.
Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.