640 Somerset Street
Ottawa Centre, ON
- 1,500 sqft
- Commercial Retail
- 6 days on market
INVESTORS & DEVELOPERS! Currently generating $7,042/month ($84,504/year) in gross rental income, this rare detached mixed-use property in the heart of Centretown West offers exceptional flexibility and future potential. The upper residential unit is rented for $2,300/month, the main-floor commercial space for $3,842/month through 2027, plus $900/month from the rear space. Zoned TM(2185) H(16), the property offers residential and commercial possibilities and multiple income streams. The main level is currently configured as commercial space, while the self-contained upper unit features a separate entrance and private second-floor balcony. Significant improvements were completed in 2022, including updated appliances and interior upgrades. Additional features include a dry basement and major system updates including roof and furnace. Ideally positioned on Somerset St W in vibrant Chinatown, just minutes from Little Italy, LeBreton Flats, downtown, shops, restaurants, transit and the LRT. Strong income today with exciting long-term potential. (Buyer to verify zoning, permitted uses and redevelopment possibilities. Sold as is)
Listing Details
- Taxes (2025)
- $8,300
- Listed
- September 11, 2026
Price History
Listing history
Sign in to view
Property
- Lot Size
- 25.85 x 110.01 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Bronson
- Zoning
- TM[2185]H(16)
- Parcel Number
- 041210447
- Possession
- Other
- Occupancy
- Tenant
Included
- Inclusions
- dishwasher, dryer, refrigerator, washer, stove
- Rental Items
- 2 hot water tanks
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
- $443,750
- Homes sold
- 376
- Median days on market
- 32
- Sale-to-list price
- 97.1%
Based on 376 recorded sales of commercial properties in Ottawa Centre over the last 12 months.
Listed by
FIDACITY REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 1,500 sq ft
- Price per sq ft
- $483.27
- Annual property tax
- $8,300
- Tax per sq ft
- $5.53
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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Reita is an automated assistant, not a licensed real estate agent. This listing mentions Currently generating $7,042/month ($84,504/year) in gross rental income, this rare detached mixed-use property in the heart of Centretown West offers exceptional flexibility and future potential.. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?