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$ 3,200,000
Est. payment /mo
Contingent
390 MCARTHUR AVE Ottawa, ON K1L 6N6
UPDATED:
Key Details
Property Type Other Types
Sub Type Retail
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID 1391663
Year Built 1981
Annual Tax Amount $33,462
Tax Year 2023
Property Sub-Type Retail
Property Description
Well maintained commercial building currently used as a medical center, with a doctor's office, a pharmacy, and a dentist. Traditional Mainstreet Corridor (TM zone) allows a wide variety of retail and business uses. Built around 1981, with an annex built by Domicile in about 1987. Approximately 8,500 sq' gross floor area on 2 floors. It has frontage on 3 streets, and has 2 separate parking lots (21 parking spaces plus 5 cash in lieu). 2 units have been left vacant so a new buyer can either use the space, or find new tenants at market rates (likely $30 triple net).The medical practice occupies the upper floor, and they will rent back for a period of time at market rates, or vacate, depending on the buyer. Potential over $200,000 triple net income. Also has future development potential - TM Mainstreet Corridor - 9 storey building height permitted with new OP and new zoning bylaw, 14,284 sq' lot size (have your planner check it out).
Location
Province ON
Listed by RE/MAX HALLMARK REALTY GROUP