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    For Sale - 474 SOMERSET Street, Ottawa Centre, Ontario

    Est payment $4,504/mo
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    Views   1
    Time on Jump  47 day

    AI Summary *

    • High visibility location in the heart of Central Ottawa with endless possibilities.
    • Flexible zoning allows for various commercial or mixed-use opportunities.
    • Strong cash flow potential from existing mid- to long-term tenants.
    • Convenient access to transit, restaurants, parks, and shopping.
    • Recent renovations improve tenant appeal and maximize rental performance.




    Location, location, location! Transform this high visibility asset into commercial space of your own. Flexible zoning allows for mixed use - turn into an office or have short term rentals, etc. 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 IDX13732866
    Address474 SOMERSET Street
    CityOttawa Centre, Ontario
    Price$938,000
    StyleInvestment
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentHeating / Cooling Gas Forced Air Closed

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    Listing Brokerage: RE/MAX HALLMARK REALTY GROUP

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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