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$ 4,800,000
Est. payment /mo
Active
691-701 SOMERSET ST W Ottawa, ON K1R 6P5
UPDATED:
Key Details
Property Type Other Types
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1416878
Year Built 1986
Annual Tax Amount $64,475
Tax Year 2021
Property Sub-Type Retail
Property Description
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.
Location
Province ON
Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES