Office Listings

2208 ST JOSEPH BOULEVARD
Orleans Village-Chateauneuf Ottawa K1C1E8

$3,750,000
Retail

Main Photo: 2208 ST JOSEPH BOULEVARD in Ottawa: Retail for sale : MLS®# 1307689
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Status:
Active
Prop. Type:
Retail
MLS® Num:
1307689
A ten-unit strip mall for sale. High traffic location on St Joseph Blvd, a main retail corridor in the East end suburb of Ottawa. Current rents are 30% below market value giving a sophisticated investor a substantial upside opportunity to increase cash flow and property value over the coming cycle of lease renewals. The property has been valued based on its current financial performance. Investment projections illustrate the embedded rents will raise the property value to more than $6,500,000 once the leases achieve market rent rates around 2027 to 2028 using a 5% cap rate. This is a well-maintained property with 8 of 10 rooftop HVAC units having been replaced within the last few years. There are currently two units available for lease. Unit 113 is an end cap space comprising 1,151 sf. Unit 103 is an inline unit comprising 650 sf. Net rent for new leases starts at $30 psf. Building operating costs are $11 psf. The Seller is not willing to provide vendor financing. (id:2493)
Property Type:
Retail
Transaction Type:
For sale
Zoning:
AM
Ownership Type:
Freehold
Community:
Orleans Village-Chateauneuf
Number of bathrooms:
0.0
Half Bathrooms:
0
Age:
32 years
Fireplace:
No
Lot Frontage:
275'
Lot Depth:
141'
Acreage:
No
Lot Size:
0.83 acre(s)
Lot Size:
0.83 ac
Lot Details:
0.83
Total Parking Spaces:
42
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Data was last updated September 26, 2022 at 09:45 PM (UTC)
Area Statistics
Listings on market:
33
Avg list price:
$1,375,000
Min list price:
$125,000
Max list price:
$7,900,000
Avg days on market:
70
Min days on market:
12
Max days on market:
670
Avg price per sq.ft.:
$900
These statistics are generated based on the current listing's property type and located in Ottawa. Average values are derived using median calculations.
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