474 SOMERSET Street
Ottawa Centre, ON
- 2,809 sqft
- Investment
- 240 days on market
Potential Gross Income (when fully rented): $116,832/year. HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL. With a walk score of 99/100, this Unique opportunity in the heart of Centretown, Central Ottawa - a high-performing commercial-residential investment property offering strong existing income with exceptional future development upside. Zoned TM14 H(20), this flexible zoning permits a wide range of commercial, mixed-use, and multi-residential possibilities with allowable building heights up to 20 metres, making this an attractive acquisition for developers and long-term investors alike.Situated on a 29 x 110 ft lot with 5 rear parking spaces, the property benefits from unbeatable urban walkability surrounded by transit, employment hubs, parks, restaurants, and downtown amenities - a location consistently in demand with tenants and future redevelopment prospects.The property is currently operated as individual residential rentals and has undergone over $100,000 in renovations, optimizing rental performance and tenant appeal. It generates strong cash flow while providing investors flexibility to reposition, redevelop, or hold for long-term appreciation. The asset benefits from continued rental demand driven by Ottawa's population growth and urban intensification, making it ideal for investors seeking both immediate income and future upside.A rare opportunity to secure a high-yield property in one of Ottawa's most desirable urban investment corridors.Contact listing agent for financials, additional photos, and private viewing. *Offers welcome*
Listing Details
- Taxes (2025)
- $12,984
- Originally Listed
- $1,100,000
- Listed
- January 6, 2026
Price History
Listing history
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Property
- Lot Size
- 29 x 110 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- From Queensway E: take Catherine Street exit, turn right onto Bank, then left onto Somerset Street W. From Queensway W: Take exit at Kent Street. Turn left onto Somerset Street W. building will be on left .
- Zoning
- TM14 H
- Parcel Number
- 041200075
- Possession
- Immediate
- Occupancy
- Tenant
Commercial
- Office / Apartment Area
- 2535 Sq Ft
Included
- Inclusions
- appliances and furniture
- Exclusions
- tenant belongings
- Rental Items
- hot water tank
Property Insights
AI-generated from listing photos. Not professional advice.
Community
Postal area K1R
- Population
- 20,343
- Private dwellings
- 12,836
- Median age
- 36
- Average household size
- 1.7
- Median household income
- $74,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Ottawa Centre · last 12 months
- Median sold price
- $451,000
- Homes sold
- 371
- Median days on market
- 32
- Sale-to-list price
- 97.1%
Based on 371 recorded sales of commercial properties in Ottawa Centre over the last 12 months.
Listed by
RE/MAX HALLMARK REALTY GROUP
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 2,809 sq ft
- Price per sq ft
- $351.73
- Annual property tax
- $12,984
- Tax per sq ft
- $4.62
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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