$ 938,000
-
$938,000
Price -
0
Bed -
0
Bath -
2,809
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing 504305 -
HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL | MIXED-USE ZONING. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa's fastest-growing urban corridors.Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest.Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100,000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116,832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset.Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. ALL SERIOUS OFFERS WELCOME.
Listing Highlights
Status
Active
Days on Site
7
Property Type
Commercial Sale
MLS ®
X13167240
Year Built
Total Square Footage
2,809
Lot/Acreage
N/A
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Yes
- Heating: Gas Forced Air Closed
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
- Parking Features: No Garage
Financial Details
- Tax Amount: $12,984
- Taxes w/Assessments: N/A
- Tax/Property ID: 041200075
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
474 Somerset St W Ottawa Centre, ON K1R 5J8
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of
