390 MCARTHUR AVENUE
Vanier South/Overbrook Ottawa K1L 6N6

$3,200,000
Retail

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Status:
Active
Prop. Type:
Retail
MLS® Num:
1391663
Well maintained commercial building currently used as a medical center, with a doctor's office, a pharmacy, and a dentist. Traditional Mainstreet Corridor (TM zone) allows a wide variety of retail and business uses. Built around 1981, with an annex built by Domicile in about 1987. Approximately 8,500 sq' gross floor area on 2 floors. It has frontage on 3 streets, and has 2 separate parking lots (21 parking spaces plus 5 cash in lieu). 2 units have been left vacant so a new buyer can either use the space, or find new tenants at market rates (likely $30 triple net).The medical practice occupies the upper floor, and they will rent back for a period of time at market rates, or vacate, depending on the buyer. Potential over $200,000 triple net income. Also has future development potential - TM Mainstreet Corridor - 9 storey building height permitted with new OP and new zoning bylaw, 14,284 sq' lot size (have your planner check it out). (id:2493)
Property Type:
Retail
Common Interest:
Freehold
Total Living Area:
8,500 sq. ft.
Transaction Type:
For sale
Zoning:
TM - Corridor
Ownership Type:
Freehold
Taxes:
$33,462 / 2023
Community:
Vanier South/Overbrook
Age:
43 years
Fireplace:
No
Lot Frontage:
140'
Lot Depth:
116'
Acreage:
No
Lot Size:
140 ft X 116 ft (Irregular Lot)
Lot Details:
140 ft X 116 ft (Irregular Lot)
Total Parking Spaces:
21
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    Contains information licensed under the Open Government License - City of Ottawa
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Listed by RE/MAX HALLMARK REALTY GROUP
Data was last updated November 14, 2024 at 03:45 PM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$1,800,000
Min list price:
$649,990
Max list price:
$6,995,000
Avg days on market:
169
Min days on market:
104
Max days on market:
379
Avg price per sq.ft.:
$456.84
These statistics are generated based on the current listing's property type and located in Ottawa. Average values are derived using median calculations.
LUCIE CLERMONT
Wayne Clermont
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.