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$4,800,000
Available - For Sale
Listing ID: X9768534
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: $64,475
Occupancy by: Tenant
Address: 691-701 SOMERSET St West , West Centre Town, K1R 6P5, Ontario
Postal Code: K1R 6P5
Province/State: Ontario
Legal Description: LT 64, PL 3459 ; S/T N327925 OTTAWA/NEPE
Lot Size: 100 x 85 (Feet)
Directions/Cross Streets: North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right.
Zoning: TM [112] H(16)
Category: Retail
Total Area: 14,324
Retail Area: 14324
Gross Income/Sales: $402976
Net Income Before Debt: $263396
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AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES

691-701 SOMERSET St West , West Centre Town, K1R 6P5, Ontario


 
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Type: Com - Commercial/Retail
Area: Ottawa
Municipality: West Centre Town
Neighbourhood: 4204 - West Centre Town
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Lot Size: 100.00 x 85.00(Feet)
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Tax: $64,475
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