Discover a rare investment opportunity in Ottawa’s revitalized Hintonburg neighborhood. This mixed-use property on Wellington Street West offers 6 commercial units over 10,185 sq.ft. of retail space and 11 residential units above, all fully occupied. With over 140 feet of prime frontage, this property is the largest site between Parkdale and Somerset Street West, covering approximately 20,039 sq. ft. The property generates a gross income of $586,658, with operating expenses of $228,965, producing a net operating income of $357,693. Its prime location provides easy access to Tunney’s Pasture, Bayview LRT Station, LeBreton Flats, and the Queensway via Parkdale Avenue. Zoned TM11, the property allows for diverse uses and a development height of 20 meters (65 feet), making it ideal for future residential intensification redevelopment. This property is a secure, lucrative investment offering steady rental income and significant growth potential in a vibrant, artistic community. (id:47421)
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Detailed Information
Lot
143 x 0 ft
Listing Contract Date
2024-07-31
Municipal ID
040990000
Ownership Type
Freehold
# of Parking Spaces
17
Property Type
Retail
Transaction Type
For sale
Zoning Description
TM11
Building
Constructed Date
1940
Land
Total Size
0.45 acres
Size of Irregular Land
0.45
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