2208 St Joseph Boulevard Ottawa, Ontario K1C 1E8
$3,750,000
Eleven-unit strip mall for sale. Fully leased. High-traffic location on St Joseph Blvd in the East of Ottawa. There have been 4 new leases within the last 6 months at the building. All contracts are for five years at market rents with buillt-in annual escalations and triple net lease structures. Some older leases have rates well below market value giving you a substantial upside opportunity to increase rental rates over the coming cycle of renewals. A five-year projection places the building at a value in excess of $6,700,000 based on where the net income of the building will be at that time. You can buy it for $3,750,000 today. This is a well-maintained property with 8 of the 10 rooftop HVAC units having been replaced within the last few years and the roof replaced in 2018. No major capital costs are needed for many years. A clean phase 1 environmental report was completed in March 2023 and is available. (id:37684)
Property Details
| MLS® Number | 1334920 |
| Property Type | Retail |
| Neigbourhood | Orleans Village-Chateauneuf |
| Parking Space Total | 42 |
Building
| Constructed Date | 1990 |
Land
| Acreage | No |
| Size Depth | 141 Ft |
| Size Frontage | 275 Ft |
| Size Irregular | 0.83 |
| Size Total | 0.83 Ac |
| Size Total Text | 0.83 Ac |
| Zoning Description | Am |
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July 24 2023 08:32:41
Ottawa Real Estate Board
Keller Williams Integrity Realty
