549 Gladstone Ave
1,800 SF 100% Leased Retail Building Ottawa, ON K1R 5P2 $903,732 USD ($502 USD/SF) 6.72% Cap Rate
INVESTMENT HIGHLIGHTS
- Minutes away from the heart of the City
- Total gross rent is 97,200
- Residential/commercial property
- Commercial unit located on main floor and additional income with 3 residential apartments
EXECUTIVE SUMMARY
Opportunity to own a property minutes away from the heart of the City. Income property located in heart of downtown Ottawa. 547 and 501 Bay is residential/commercial property. Located in the bustling and not far from lively Little Italy, This is an excellent income generating property this property could also be transformed into a multi-unit building with a commercial space on mail floor .currently Main floor has a cafe and Second floor has 2 of 2 two bedroom apartments. This building also has an address of 501 Bay St as a third one bedroom apartment. Total gross rent is 97,200. All the residential units have been fully renovated and rented. The lot on the side of the property provides 4 parking. It also has a full basement can be turned into another use with separate entrance. Commercial unit located on main floor and additional income with 3 residential apartments units
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,800 SF
Year Built
1910
Price
$903,732 USD
Price Per SF
$502 USD
Cap Rate
6.72%
NOI
$60,707 USD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.64
Lot Size
0.06 AC
Zoning
TM14 H(17) - Traditional Mainstreet
Parking
4 Spaces (2.22 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Signage
- Signalized Intersection
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (89)