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.
Address
474 Somerset Street W
List Price
$938,000
MLS® Status
New
Expiration Date
2026-08-30
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Ottawa Centre
Sub-Area
4103 - Ottawa Centre
Region
Ottawa
Lot Depth
110
Lot Type
Building
Lot Size Units
Feet
Lot Width
29
Parcel Number
041200075
Total Building Area
2809
Occupant Type
Tenant
Cross Street
In between - Kent Street and Lyon Street
Frontage Length
8.84
MLS® Number
X13167240
Listing Brokerage
RE/MAX HALLMARK REALTY GROUP
Postal Code
K1R 5J8
Posession Details
Immediate or Flexible
Parking Spaces
5
Tax Amount
$12,984.16
Tax Year
2025
Standard Status
Active
Board Or Association
Ottawa Real Estate Board
Heat Type
Gas Forced Air Closed
Cooling Features
Yes
Garage Type
None
Tax Legal Description
PT LT 25, PL 27267 , S/S SOMERSET ST AS IN NS107572 ; OTTAWA/NEPEAN
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