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.
North on Bronson Avenue Exit from Highway 417. West on Somerset, property is on the right.
Neighbourhood
4204 - West Centre Town
Area
Ottawa
Price History
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Detailed Information
Freestanding
Y
Lot
100 x 85 ft
Lot Irregularities
1
Retail Area
14,324 ft2
Total Area
14,324 ft2
Elevator
Public
Air Conditioning
Part
Garage Type
Underground
Parking Spaces
20
Heat Type
Gas Forced Air Open
Gross Income/Sales
$402,976
Net Income Before Debt
$263,396
Expenses Actual/Estimated
Est
Water
Municipal
Zoning
TM [112] H(16)
Seller Property Info Statement
N
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