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2208 St Joseph Boulevard Ottawa, Ontario K1C 1E8

$3,750,000

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:39840)

Property Details

MLS® Number 1307689
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

https://www.realtor.ca/real-estate/24748882/2208-st-joseph-boulevard-ottawa-orleans-village-chateauneuf

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Mitch Gauzas
Salesperson

(613) 829-1818
www.mitchgauzas.com
https://www.facebook.com/michgauzasrealestate/

Keller Williams Integrity Realty
2148 Carling Ave., Units 5 & 6
Ottawa, Ontario K2A 1H1

(613) 829-1818
(613) 829-3223
www.kwintegrity.ca

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