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2208 St Joseph Boulevard Ottawa, Ontario K1C 1E8


6.4% Cap rate. Ten-unit strip mall for sale. High-traffic location on St Joseph Blvd in the East of Ottawa. Substantial upside opportunity to increase rental rates over the coming cycle of renewals. The newest leases in 2022 and 2023 are $30 net with a scheduled 2.5% annual increase. Most leases are still far below market value offering a sophisticated investor a significant upside for increased cash flow and property value. A five-year projection places the building at a value in excess of $6,900,000 based on an average income of $33 net psf at that time. 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. We are currently seeking tenants for two small adjacent units as a lease recently expired. A clean phase 1 environmental report was completed in March 2023 and is available. (id:36465)

Property Details

MLS® Number 1334920
Property Type Retail
Neigbourhood Orleans Village-Chateauneuf
Parking Space Total 42


Constructed Date 1990


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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