502 Bank Street

Ottawa, Ontario K2P 1Z4

10,010 sqft Interior

Bldg=65.71 X 99.21 Ft Lot size

1 day ago Listed

Partially Air Conditioned Other

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About this home

Exceptional opportunity to acquire a well-established income property. Located on the vibrant corner of Bank Street and Arlington Ave, this offering includes 502-510 Bank Street and 5 Arlington Avenue, comprising 9 income-generating units: 5 commercial storefronts and 4 residential apartments. The commercial component features a diverse mix of established businesses, including restaurants, retail and a coffee shop, while the residential units consist of two one-bedroom and two bachelor apartments. Ideally situated in a high-visibility, pedestrian-friendly location surrounded by thriving businesses and established residential neighbourhoods. The property has benefited from numerous capital improvements over the years, including roof replacements, resurfaced parking areas and updated mechanical systems. An attractive turnkey investment offering diversified revenue streams in one of Ottawa's most sought-after urban commercial corridors. (id:28469)

Facts & features

Property

MLS® Number: X14160010
Property Type: Retail
Community Name: 4103 - Ottawa Centre
Features: Irregular Lot Size

Building

Age: 51 To 99 Years
Cooling Type: Partially Air Conditioned
Heating Type: Other
Size Exterior: 10010 Sqft
Size Interior: 10,010 Sqft
Type: Residential Commercial Mix
Utility Water: Municipal Water

Land

Acreage: No
Size Depth: 99 Ft ,2 In
Size Frontage: 65 Ft ,8 In
Size Irregular: Bldg=65.71 X 99.21 Ft
Size Total Text: Bldg=65.71 X 99.21 Ft
Zoning Description: Ms1 H(30)

Monthly payment estimate

Home price

Down payment 20%

Interest rate (%)

Amortization

Frequency

Estimated payment — per month

Mortgage amount: —
Total interest: —

Estimate only — excludes property tax, insurance and condo fees. Rates compound semi-annually as is standard for Canadian mortgages.

Cost of ownership

Est. monthly payment: $16,604/mo
Ontario land transfer tax: $80,225 one-time

Payment assumes 20% down over 25 years. First-time buyers may get up to $4,000 back on land transfer tax.

The Ottawa Centre market

85 Active listings

$749,900 Median asking price

400% above median This home

34 days Avg. time on market

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Location

502 Bank Street, Ottawa, Ontario K2P 1Z4 · Get directions