474 SOMERSET Street

ActiveOttawa Centre · 4103 - Ottawa Centre75 days on marketMLS® X13167240

$938,000

$334 / sq ft

Bedrooms0

Bathrooms0

Interior2,809 sq ft

TypeCommercial

ListingFor Sale

Days on Market75

About this property

HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL | MIXED-USE ZONING. 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.

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Property details

MLS® Number	X13167240
Status	Active
Listing Type	For Sale
Property Type	Commercial
Interior Size	2,809 sq ft
Beds / Baths	0 bed · 0 bath
Neighbourhood	4103 - Ottawa Centre
City	Ottawa Centre
Postal Code	K1R 5J8
Province	ON
Listed Date	May 24, 2026
Days on Market	75
Price per Sq Ft	$334
Brokerage	RE/MAX HALLMARK REALTY GROUP