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$938,000
Ontario,Ottawa
For Sale Active
474 SOMERSET STREET W, Ottawa, Ontario K1R5J8
  • 2,809 Sqft
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Basic Details
Description

HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL | MIXED-USE ZONING. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning

allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa’s fastest-growing urban corridors.Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest.Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100, 000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116, 832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset.Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. ALL SERIOUS OFFERS WELCOME. (id:62650)

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Basic Details
  • Property Type: Commercial Sale
  • Listing Type: For Sale
  • Listing ID: X13167240
  • Price: $938,000
  • Square Footage: 2,809 Sqft
  • Status: Active
  • Property Sub Type: Office
  • Office Key: 283783
Features & Appliances
Features
  • Heating System: Forced air, Natural gas
  • Cooling System: Fully air conditioned
Address Map
  • Location: CA, Ontario, Ottawa, K1R5J8
  • Street: SOMERSET
  • Street Number: 474
  • Street Suffix: Street
  • Longitude: W76° 18' 1.5''
  • Latitude: N45° 24' 49.5''
  • Street Dir Suffix: West
Additional Information
  • Water Source:
  • Lot Size Dimensions: Bldg=29 x 110 FT ; 0
Financial
  • Tax Annual Amount: 12984.16
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Listing updated: 2026-06-17 05:01:45
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Listing Information
  • List Agent Key: 1586555
  • List Office Key: 283783
  • Modification Timestamp: 2026-05-24T13:30:14Z
  • Originating System Name: Ottawa Real Estate Board
  • Status Change Timestamp: 2026-05-24T13:24:25Z
Powered by REALTOR.ca
Listing updated: 2026-06-17 05:01:46
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