$3,200,000 FOR SALE

Commercial/Retail

Lot: 140 x 116 ft

390 Mcarthur Avenue
Ottawa, ON K1L 6N6 | Vanier South/Overbrook

Well maintained commercial building currently used as a medical center, with a doctor's office, a pharmacy, and a dentist. Traditional Mainstreet Corridor (TM zone) allows a wide variety of retail and business uses. Built around 1981, with an annex built by Domicile in about 1987. Approximately 8,500 sq' gross floor area on 2 floors. It has frontage on 3 streets, and has 2 separate parking lots (21 parking spaces plus 5 cash in lieu). 2 units have been left vacant so a new buyer can either use the space, or find new tenants at market rates (likely $30 triple net).The medical practice occupies the upper floor, and they will rent back for a period of time at market rates, or vacate, depending on the buyer. Potential over $200,000 triple net income. Also has future development potential - TM Mainstreet Corridor - 9 storey building height permitted with new OP and new zoning bylaw, 14,284 sq' lot size (have your planner check it out). (id:47423)

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Listed By RE/MAX HALLMARK REALTY GROUP
Data Provided By Ottawa Real Estate Board
MLS® Listing Number 1391663
Last Updated May 25, 2024
Property Summary
Property Type Commercial/Retail

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Neighbourhood Vanier South/Overbrook
Price History
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Detailed Information
Lot 140 x 116 ft
Listing Contract Date 2024-05-15
Municipal ID 042460001
Ownership Type Freehold
# of Parking Spaces 21
Property Type Retail
Transaction Type For sale
Zoning Description TM - Corridor
Building
Constructed Date 1981
Land
Total Size 140 ft X 116 ft (Irregular Lot)
Size of Irregular Land 140 ft X 116 ft (Irregular Lot)

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