A ten-unit retail strip mall for sale in Ottawa’s Eastern Suburb, Orleans. Perfect for sophisticated investors looking for substantial upside opportunities.
A ten-unit 11,001 square foot strip mall for sale. High traffic location on St Joseph Blvd, a main retail corridor in Orleans, an East end suburb of Ottawa.
This is a well-maintained property with 8 of 10 rooftop HVAC units having been replaced within the last few years.
Current rents are 30% below market value giving a sophisticated investor a substantial upside opportunity to increase cash flow and property value over the coming cycle of lease renewals. The property has been valued based on its current financial performance.
Investment projections illustrate the embedded rents will raise the property value to more than $6,000,000 once the leases achieve fair market value.
There are currently two units available for lease. Unit 113 is an end cap space comprising 1,152 sf. Unit 103 is an inline unit comprising 650 sf. Net rent for new leases starts at $30 psf. Building operating costs are $12.26 psf.
Contact My Ottawa Agent, Mitch Gauzas for pricing and more information. We specialize in Ottawa commercial real estate sales, leasing and site-plan approval project management.