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673-675 Somerset St W 6,562 SF 100% Leased Retail Building Ottawa, ON K1R 6P3 $2,150,000 CAD ($327.64 CAD/SF)
Investment Highlights
- Fully occupied mixed-use property with two ground-floor commercial spaces and four residential apartments above.
- Exceptional location at Somerset Street West and Bronson Avenue in Ottawa’s Chinatown, offering high visibility and foot traffic.
- Stable, long-term income supported by nationally recognized tenants Pizza Pizza and TeaLive on triple net leases.
- Zoned TM[112]H(16), permitting flexible commercial and residential uses and future redevelopment opportunities.
Executive Summary
LANDMARK mixed-use investment opportunity in the heart of Ottawa's vibrant Chinatown. Situated on a high-visibility corner at Somerset St W and Bronson Ave, this fully tenanted property features 6 units, including 2 ground-floor commercial spaces and 4 residential apartments above. The commercial component is anchored by established tenants Pizza Pizza and TeaLive, both on triple net leases, providing stable, hands-off income. Residential units offer strong upside potential with below-market rents, allowing investors to increase cash flow over time. Zoned TM[112]H(16), this property allows for a wide range of commercial and residential uses, making it ideal for both investors and future redevelopment. Located in a high-foot-traffic area surrounded by restaurants, retail, and transit, demand continues to grow as Chinatown undergoes revitalization. This is a rare opportunity to secure a stable, income-generating asset with long-term growth potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,562 SF
Building Class
B
Year Built
1950
Price
$2,150,000 CAD
Price Per SF
$327.64 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.58
Lot Size
0.10 AC
Zoning
TM[112]H(16)
Frontage
64’ on Somerset St W
Amenities
- Bus Line
- Corner Lot
- Restaurant
- Security System
- Signage
- Signalized Intersection
- Video Patrol
- On-Site Retail
- Vintage Building
- Public Transportation
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
1 of 3
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673-675 Somerset St W
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