1008 Wellington Street W Ottawa, Ontario K1Y 2X9

$6,995,000

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:37553)

Property Details

MLS® Number 1405240
Property Type Retail
Neigbourhood Hintonburg
Parking Space Total 17

Building

Constructed Date 1940

Land

Acreage No
Size Frontage 143 Ft
Size Irregular 0.45
Size Total 0.45 Ac
Size Total Text 0.45 Ac
Zoning Description Tm11

https://www.realtor.ca/real-estate/27245285/1008-wellington-street-w-ottawa-hintonburg

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August 02 2024 04:51:16

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