691-701 SOMERSET Street West, West Centre Town | Image 1

691-701 SOMERSET Street West

West Centre Town, 4204 - West Centre Town

  • Commercial

$4,800,000
For Sale

Added 1 month ago

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  • Type: Commercial/Retail

  • Property Type: Commercial

  • Zoning: TM [112] H(16)

  • Age: No Data

  • Taxes: 64475

  • MLS®#: X9768534

  • Days on Site: 45 Days

  • Added: Oct 29, 2024 (1 month ago)

  • Updated:

  • Last Checked: 3 hours ago

  • Listed By: AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES

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.

Property

  • Status: Sale

  • Property Type: Commercial/Retail

  • Property Type: Retail

  • Net Income: 263396

  • Area: West Centre Town

  • Community: 4204 - West Centre Town

  • Availability Date: TBD

Inside

  • Air Conditioning: Part

Building

  • Heat Type: Gas Forced Air Open

  • Elevator: Public

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: Underground

  • Covered Parking Spaces: 20

Fees

  • Tax Year: 2024

  • Tax Legal Description: LT 64, PL 3459 ; S/T N327925 OTTAWA/NEPEAN

  • Taxes: $64,475

  • Expenses: Est

Land

  • Cross Street: North on Bronson Ave

  • Municipality District: West Centre Town

  • Parcel Number: 041110214

  • Lot Depth: 85 Feet

  • Lot Frontage: 100 Feet

  • Lot Irregularities: 1

  • Zoning: TM [112] H(16)

Commercial Specific

  • Retail Area: 14324

  • Retail Area Metric: Sq Ft

  • Total Area: 14324

  • Total Area Metric: Sq Ft

  • Gross Income/Sales: 402976

Map of 691-701 SOMERSET Street West, West Centre Town
JK-6

École élémentaire publique Centre-Nord

Elementary: Public
1.47 km
JK-6

Cambridge Street Community Public School

Elementary: Public
0.35 km
JK-6

St Anthony Elementary School

Elementary: Catholic
0.54 km
JK-8

Centennial Public School

Elementary: Public
0.49 km
JK-6

Devonshire Community Public School

Elementary: Public
1.12 km
7-8

Glashan Public School

Elementary: Public
1.09 km
9-12

Urban Aboriginal Alternate High School

Secondary: Public
0.63 km
9-12

Richard Pfaff Secondary Alternate Site

Secondary: Public
0.40 km
9-12

Immaculata High School

Secondary: Catholic
2.08 km
Pre-Grade 9-12

Lisgar Collegiate Institute

Secondary: Public
1.82 km
9-12

Adult High School

Secondary: Public
0.79 km
Pre-Grade 9-12

Glebe Collegiate Institute

Secondary: Public
1.29 km
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