$988,000
FOR SALE

Office

Lot: 29 x 110 ft

474 Somerset Street W
Ottawa, ON K1R 5J8

Potential Gross Income (when fully rented): $116,832/year. HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL. With a walk score of 99/100, this Unique opportunity in the heart of Centretown, Central Ottawa - a high-performing commercial-residential investment property offering strong existing income with exceptional future development upside. Zoned TM14 H(20), this flexible zoning permits a wide range of commercial, mixed-use, and multi-residential possibilities with allowable building heights up to 20 metres, making this an attractive acquisition for developers and long-term investors alike.Situated on a 29 x 110 ft lot with 5 rear parking spaces, the property benefits from unbeatable urban walkability surrounded by transit, employment hubs, parks, restaurants, and downtown amenities - a location consistently in demand with tenants and future redevelopment prospects.The property is currently operated as individual residential rentals and has undergone over $100,000 in renovations, optimizing rental performance and tenant appeal. It generates strong cash flow while providing investors flexibility to reposition, redevelop, or hold for long-term appreciation. The asset benefits from continued rental demand driven by Ottawa's population growth and urban intensification, making it ideal for investors seeking both immediate income and future upside.A rare opportunity to secure a high-yield property in one of Ottawa's most desirable urban investment corridors.Contact listing agent for financials, additional photos, and private viewing. *Offers welcome* (id:47421)
Share
Listed By RE/MAX HALLMARK REALTY GROUP
Data Provided By Ottawa Real Estate Board
MLS® Listing Number X12671378
Last Updated Apr 24, 2026
Property Summary
Property Type Office

More like this:
Community 4103 - Ottawa Centre
Price History

Interested in obtaining the full price history for this property?
Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.

Detailed Information
Lot 29 x 110 ft
Equipment Water Heater
Listing Contract Date 2026-01-06
Location Description Cross Streets: From Queensway E: take Catherine Street exit, turn right onto Bank, then left onto Somerset Street W. From Queensway W: Take exit at Kent Street. Turn left onto Somerset Street W. building will be on left . ** Directions: Bank St to Somerset St W.
# of Parking Spaces 5
Property Type Office
Rental Equipment Water Heater
Transaction Type For sale
Zoning Description TM14 H
Building
Appliances Furniture
Cooling Type Fully air conditioned
Heating Fuel Natural gas
Heating Type Forced air
Size (Exterior) 2809 square feet
Type Offices
Utility Water Municipal water
Land
Total Size Bldg=29 x 110 FT ; 0
Size of Irregular Land Bldg=29 x 110 FT ; 0

The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

FREE ESTIMATES ARE COMING

Reserve Your Spot To Be Notified
or

Coming soon to select cities
in North America

(We'll never share your details)