Ontario

Kitchener-Cambridge-Waterloo Industrial Market Report 2025 — Prices, Cap Rates & Trends

In the Kitchener-Cambridge-Waterloo industrial market, the median recorded sale price is $3,952,500, across 242 recorded transactions, between 2021-09-27 to 2025-12-31.

Analyze a deal

$4M

Median sale price

242

Recorded transactions

-15.1%

YoY change in median

Price distribution

Where Kitchener-Cambridge-Waterloo industrial sale prices sat across 242 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for Kitchener-Cambridge-Waterloo industrial.

Recorded transaction volume by year

Year	Recorded transactions
2021	9
2022	63
2023	63
2024	53
2025	54

This market vs. Ontario overall

Metric	Kitchener-Cambridge-Waterloo	Ontario
Median sale price	$3,952,500	$2,194,500
25th percentile	$2,362,500	$1,325,000
75th percentile	$7,425,000	$4,750,000
Recorded transactions	242	29,749
Year-over-year change	-15.1%	-5.5%

Asset classes in Kitchener-Cambridge-Waterloo

Asset class	Median price	Transactions
Industrial	$4M	242
Land	$4.7M	109
Multifamily	$2.5M	383
Office	$2.5M	118
Other	$2.2M	226
Retail	$2M	158

Industrial across Ontario markets

Market	Median price	Transactions
Barrie	$2.7M	73
Belleville	$4.9M	15
Brantford	$3.5M	71
Greater Sudbury	$1.9M	46
Guelph	$3.1M	71
Hamilton	$3.1M	236
Kingston	$1.6M	48
Kitchener-Cambridge-Waterloo	$4M	242
London	$2.7M	115
Oshawa	$4.1M	96
Ottawa	$3.4M	163
Peterborough	$2.6M	16
St. Catharines-Niagara	$2.6M	87
Thunder Bay	$1.3M	39
Toronto	$2.8M	1,836
Windsor	$2.3M	119

Rental market context

The CMHC Rental Market Survey reports a 4.1% purpose-built rental vacancy rate for Kitchener-Cambridge-Waterloo (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	Waterloo, ON	$1.0M–$1.5M	Industrial
2025-12	Waterloo, ON	$1.5M–$2.0M	Industrial
2025-12	Cambridge, ON	$3.0M–$3.5M	Industrial

Municipality, month and price band only.

Common questions

What is the median industrial sale price in Kitchener-Cambridge-Waterloo?

$3,952,500, across 242 recorded transactions in our dataset.

Are Kitchener-Cambridge-Waterloo industrial prices rising or falling?

The median recorded sale price changed -15.1% year over year in the most recent full comparison.

Methodology

This page draws on 242 recorded commercial transactions in Kitchener-Cambridge-Waterloo between 2021-09-27 and 2025-12-31, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.