$938,000 Sale

Listed 41 days ago

474 SOMERSET STREET W

MLS® x13732866 Offices

Your request was received!

We'll be in touch soon to confirm the details.

Date:

Beds · 0

Baths · 0.0

Parking · 5

Sqft · 2809

Est. mortgage

$4,387/mo

Key Facts

Key facts for 474 SOMERSET STREET W

Property Type

Commercial

Parking

Garage: No, 5 parking

MLS #

X13732866

Size

2809 sqft

Basement

Listed on

Lot size

Tax

Days on Market

Year Built

Maintenance Fee

Description

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 Ottaw...a, 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. (id:10452)

Full Property Details

Interior

Washrooms

0.0

Square Footage

2809 sqft

Heating Source

Natural gas

Heating Type

Forced air

Air Conditioning

Fully air conditioned

Full Bathrooms

Half Bathrooms

Washrooms

0.0

Square Footage

2809 sqft

Heating Source

Natural gas

Heating Type

Forced air

Air Conditioning

Fully air conditioned

Full Bathrooms

Half Bathrooms

Exterior

Acreage

Bldg=29 x 110 FT ; 0

Parking Spaces

Garage Spaces Y/N

Zoning Description

TM14 H

Acreage

Bldg=29 x 110 FT ; 0

Parking Spaces

Garage Spaces Y/N

Zoning Description

TM14 H

Building Description

Home Type

Commercial

Subtype

Offices

Water Supply

Municipal water

Home Type

Commercial

Subtype

Offices

Water Supply

Municipal water

Community

Ottawa Centre

Area Code

Ottawa

Community

Ottawa Centre

Area Code

Ottawa

Similar Properties (No results)

Mortgage Calculator

Calculate your estimated monthly mortgage payment

Price $938,000

Down payment

Interest rate

Amortization

Total cost of mortgage

Monthly payment

By clicking Save, we will calculate your estimated mortgage for all properties using the saved values (down payment percentage, interest rate, and amortization).

The accuracy and applicability of this calculator are not guaranteed.

Murtaza Siddiqui

Email: [email protected] Cell: 613-805-1111