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Mario Tompson
Sales Representative
Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

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$4,800,000
Available - For Sale
Listing ID: X9768534
691-701 Somerset Street West is one of Chinatown's most recognizable and identifiable commercial properties. Immediately visible from the Royal Gateway at Bronson Avenue, this investment represents the opportunity to own a fully tenanted building in a prestigious location. The site area for the property is 7,592 sf with a total of 14,324 rentable square feet over the first and second floors. Serviced with both an elevator and spiral staircase, the second floor provides a 7,327 sf unit, where the ground floor unit provides approximately 3,430 sf. Both units have executed 5-year leases in 2024. Three additional retail units on the ground floor are also leased. A 7,167 sf lower-level parking garage provides approximately 16 parking spots accessed from Cambridge Street North. The site also benefits from ample street parking and a parking lot to the west of the property.
Price $4,800,000
Taxes: $64,475
Occupancy by: Tenant
Address: 691-701 SOMERSET St West , West Centre Town, K1R 6P5, Ontario
Postal Code: K1R 6P5
Province/State: Ontario
Legal Description: LT 64, PL 3459 ; S/T N327925 OTTAWA/NEPE
Lot Size: 100 x 85 (Feet)
Directions/Cross Streets: North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right.
Zoning: TM [112] H(16)
Category: Retail
Building Percentage: Y
Total Area: 14,324
Total Area Code:  Sq Ft
Retail Area: 14324
Retail Area Code: Sq Ft
Gross Income/Sales: $402976
Net Income Before Debt: $263396
Expenses Actual/Estimated: $Est
Heat Type: Gas Forced Air Open
Central Air Conditioning: Part
Elevator Lift: Public
Water: Municipal
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AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES

691-701 SOMERSET St West , West Centre Town, K1R 6P5, Ontario

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Mario Tompson
Sales Representative
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Type: Com - Commercial/Retail
Area: Ottawa
Municipality: West Centre Town
Neighbourhood: 4204 - West Centre Town
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Lot Size: 100.00 x 85.00(Feet)
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Tax: $64,475
Maintenance Fee: $0
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Office: 416-548-7854       Mobile: 416-548-7854      Fax: 416-981-7184         Toll Free: 1-866-382-2968
Wednesday, February 5th, 2025
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