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Listed price in listed location currency (CAD).
$938,000

005

MLS® X13732866

Overview

Key Facts

Type 
Levels Commercial Sale
Size -
Garage None
Taxes $12,984
Days Active 3
Lot Size 
Approx. Age 
MLS® Number X13732866

Property Address: 474 Somerset St W, Ottawa, ON, K1R5J8

Average square foot calculated using Size range provided by listing agent.

Description

Location, Location, Location! Transform this high visibility asset into Commercial space of your own. Flexible zoning allows for Mixed use - turn into an OFFICE or have SHORT TERM RENTALS, etc. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa's fastest-growing urban corridors. Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest. Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100, 000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116, 832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset. Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. ALL SERIOUS OFFERS WELCOME.
MLS® NumberX13732866
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNone
Approx. Age
Basement
DrivewayGarage Type:None
Garage Spaces
HeatGas Forced Air Closed
A/CYes

Extras

Price History

Last Sold Price

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Appreciation

--

Avg. Days Listed

--

Today, For Sale for $938,000

For Sale · 2 days

$938,000

MLS® X13732866

2 days ago

Not Sold Yet

September 2026, For Sale for $938,000

For Sale · 2 days

$938,000

MLS® X13732866

2 days ago

Not Sold Yet

August 2026, Withdrawn for $938,000

Withdrawn · 97 days

$938,000

MLS® X13167240

5 days ago

Canceled on Aug 30, 2026

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