$4,800,000
FOR SALE

Commercial/Retail

Lot: 100 x 85 ftTotal Area: 14,324 ft2
2024 Taxes: $64,475

691-701 SOMERSET St W
West Centre Town, ON K1R 6P5 | 4204 - West Centre Town | Ottawa

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.
Share
Listed By AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9768534
Last Updated Dec 19, 2024
Property Summary
Property Type Commercial/Retail

More like this:
Category Retail
PIN 041110214
Legal Description LT 64, PL 3459 ; S/T N327925 OTTAWA/NEPEAN
Occupancy Tenant
Possession Date TBD
Taxes (2024) $64,475
Directions/Cross Streets North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right.
Neighbourhood 4204 - West Centre Town
Area Ottawa
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
Freestanding Y
Lot 100 x 85 ft
Lot Irregularities 1
Retail Area 14,324 ft2
Total Area 14,324 ft2
Elevator Public
Air Conditioning Part
Garage Type Underground
Parking Spaces 20
Heat Type Gas Forced Air Open
Gross Income/Sales $402,976
Net Income Before Debt $263,396
Expenses Actual/Estimated Est
Water Municipal
Zoning TM [112] H(16)
Seller Property Info Statement N

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)