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232 St Patrick St | Ottawa, ON K1N 5K3
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232 St Patrick St
Ottawa, ON K1N 5K3
Retail Property For Sale
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INVESTMENT HIGHLIGHTS
- 6-unit building consisting of 3 commercial spaces & 3 residential units
- Electrical has been upgraded to a 400 amp service
- The 3 residential Apts are all 1 Bdrm and 2 have balconies, rented @ $1366/mth w/ a market rent of $1600/mth
- 3 car parking in tandem
EXECUTIVE SUMMARY
An attractive 6-unit building consisting of 3 commercial spaces & 3 residential units. The beauty salon business is also included as a bonus as the seller/owner is retiring. A viable business since 1979. It has 1,073 SF & market rent of $5000/mth gross. Two other commercial spaces were added at the rear of the salon in 1987 but have been rented as Airbnb. Apt #4 is a fully furnished modern 1 BDRM unit of approx 520 S.F w/6 appliances & market rent of $1800/mth all-inclusive. Apt #5, a modern and bright 2-storey loft style apt, approx 700 SF w/2 floors of windows, 2 skylights, 6 appliances & w/a market rent of $2000/mth all-inclusive. The 3 residential Apts are all 1 Bdrm and 2 have balconies, rented @ $1366/mth w/ a market rent of $1600/mth. There's 1 hot water boiler for the main building & a forced air furnace (2017) for the two rear GRND floor units. The electrical has been upgraded to a 400 amp service. 3 car parking in tandem. With 25% down VTB 1st mortgage at 8%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,595 SF
Building Class
C
Year Built
1987
Price
£989,098
Price Per SF
£381
Net Initial Yield
5.58%
NOI
£55,191
Tenancy
Single
Number of Floors
3
Slab to Slab
15 ft
Building FAR
0.74
Lot Size
0.08 AC
Zoning
MD2 S72 - Mixed-Use
Parking
2 Spaces (0.77 Spaces per 1,000 SF Leased)
Frontage
28 ft on St Patrick St
AMENITIES
- Bus Route
- Security System
- Signage
- Signalised Intersection
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