Ottawa Property Shop - Homes For Sale

Retail For Sale

For Sale
$ 3,750,000
$inf / Acre
Ottawa, Ontario K1C1E8
0 Bed
0 Bath
Acre Acre
0 Room
Built Year 1990
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About this property

A ten-unit strip mall for sale. High traffic location on St Joseph Blvd, a main retail corridor in the East end suburb of Ottawa. Current rents are 30% below market value giving a sophisticated investor a substantial upside opportunity to increase cash flow and property value over the coming cycle of lease renewals. The property has been valued based on its current financial performance. Investment projections illustrate the embedded rents will raise the property value to more than $6,500,000 once the leases achieve market rent rates around 2027 to 2028 using a 5% cap rate. This is a well-maintained property with 8 of 10 rooftop HVAC units having been replaced within the last few years. There are currently two units available for lease. Unit 113 is an end cap space comprising 1,151 sf. Unit 103 is an inline unit comprising 650 sf. Net rent for new leases starts at $30 psf. Building operating costs are $11 psf. The Seller is not willing to provide vendor financing. (id:48414)


Property Type : Retail
Listing Type : For Sale
Listing ID : 1307689
Price : $3750000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 0.83 Acre
Year Built : 1990
Lot Area : 0 Sqft


Fireplace : False
Parking : 42

Other Information

Municipal ID : 044180216
Ownership Type : Freehold
Land Size Depth : 141 Sqft
Land Size Irregular : 0.83 Sqft
Zoning Description : AM
Land Size Total : 0.83 Acre
Land SizeFrontage : 275 Sqft

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