Description

691-701 Somerset Street West presents an opportunity to acquire a fully leased retail investment in the heart of Ottawa's Chinatown. The 2 storey building comprises of +/-14,246 square feet across 2 levels with five retail tenancies in place and an area-weighted average lease term (WALT) of approximately 3.34 years. Having recently undergone many significant capital improvements, the building offers investors the benefit of completed upgrades and reduced near-term capital expenditure requirements. The property features a unique configuration of ground and second-floor retail space, with the upper level serviced by an elevator and an attractive architectural spiral staircase that serves as a distinctive design feature. Additional amenities include a lower-level parking garage accommodating approximately 16 vehicles, with access from Cambridge Street North, as well as ample street parking and an adjacent parking lot to the west in the immediate area of the property. Detailed financial information and a schedule of recent capital improvements are available upon request.

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