474 Somerset Street W Ottawa, Ontario K1R 5J8
$938,000
Location, Location, Location! Transform this high visibility asset into Commercial space of your own. Flexible zoning allows for Mixed use - turn into an OFFICE or have SHORT TERM RENTALS, etc. 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. ALL SERIOUS OFFERS WELCOME. (id:55534)
Property Details
| MLS® Number | X13732866 |
| Property Type | Office |
| Community Name | 4103 - Ottawa Centre |
| Equipment Type | Water Heater |
| Parking Space Total | 5 |
| Rental Equipment Type | Water Heater |
Building
| Appliances | All |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Exterior | 2809 Sqft |
| Size Interior | 2,809 Sqft |
| Type | Offices |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 110 Ft |
| Size Frontage | 29 Ft |
| Size Irregular | Bldg=29 X 110 Ft ; 0 |
| Size Total Text | Bldg=29 X 110 Ft ; 0 |
| Zoning Description | Tm14 H |
https://www.realtor.ca/real-estate/30220789/474-somerset-street-w-ottawa-4103-ottawa-centre
Contact Us
Contact us for more information
Moe Mcilwain
Salesperson
www.investproperty.ca/
700 Eagleson Road, Suite 105
Ottawa, Ontario K2M 2G9
(613) 663-2720
(613) 592-9701
www.hallmarkottawa.com/
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October 19 2026 04:52:39
Ottawa Real Estate Board
RE/MAX Hallmark Realty Group