$4,800,000
Available - For Sale
Listing ID: X9768534
691-701 SOMERSET Street West , West Centre Town, K1R 6P5, Ottawa
| 691-701 Somerset Street West is one of Chinatown’s most recognizable and identifiable commercial properties. Immediately visible from the Royal Gateway at Bronson Avenue, this investment represents the opportunity to own a fully tenanted building in a prestigious location. The site area for the property is 7,592 sf with a total of 14,324 rentable square feet over the first and second floors. Serviced with both an elevator and spiral staircase, the second floor provides a 7,327 sf unit, where the ground floor unit provides approximately 3,430 sf. Both units have executed 5-year leases in 2024. Three additional retail units on the ground floor are also leased. A 7,167 sf lower-level parking garage provides approximately 16 parking spots accessed from Cambridge Street North. The site also benefits from ample street parking and a parking lot to the west of the property. |
| Price | $4,800,000 |
| Taxes: | $64475.00 |
| Tax Type: | Unknow |
| Occupancy: | Tenant |
| Address: | 691-701 SOMERSET Street West , West Centre Town, K1R 6P5, Ottawa |
| Postal Code: | K1R 6P5 |
| Fronting On: | N |
| Province/State: | Ottawa |
| Legal Description: | LT 64, PL 3459 ; S/T N327925 OTTAWA/NEPE |
| Lot Size: | 30.48 x 85.00 (Feet) |
| Directions/Cross Streets: | North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right. |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Retail |
| Building Percentage: | T |
| Total Area: | 14324.00 |
| Total Area Code: | Square Feet |
| Retail Area: | 14324 |
| Retail Area Code: | Sq Ft |
| Gross Income/Sales: | $402976 |
| Net Income Before Debt: | $263396 |
| Expenses Actual/Estimated: | $Est |
| Sprinklers: | Unkn |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Partial |
| Sewers: | Unknown |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES |
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At a Glance:
| Type: | Com - Commercial Retail |
| Area: | Ottawa |
| Municipality: | West Centre Town |
| Neighbourhood: | 4205 - West Centre Town |
| Lot Size: | 30.48 x 85.00(Feet) |
| Tax: | $64,475 |
| Fireplace: | N |
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