Prime mixed-use opportunity in the heart of Centretown. This detached 2-storey property offers flexible TM zoning allowing for residential, commercial, or mixed-use, making it ideal for investors, business owners, or live/work scenarios. Currently configured as two self-contained units and a bonus accessory unit with a separate vestibule entrance, with the option to convert to a 4-bedroom residential layout.Positioned on a 110 ft deep lot with ample on-site parking, this well-maintained building is clean, functional, and full of upside. The main level was previously operated as a restaurant and is set up to meet fire and safety requirements (buyer to verify), while the upper unit features a private balcony. The property also includes a dry basement, adding usable storage or future potential.Recent updates include over $80,000 in upgrades and major components such as roof, furnace, and A/C (approx. 2013-2014). According to MPAC, the property is recognized as a triplex with residential and commercial/industrial use, providing strong long-term flexibility and redevelopment potential.Unbeatable location just steps to Little Italy, Chinatown, LeBreton Flats, and within walking distance to the LRT, offering excellent access to transit, amenities, and future growth.Investor bonus: opportunity to acquire the neighbouring property for a potential land assembly.A rare, versatile asset in a high-demand urban corridor. Great for an investment now, maybe a owner-operated unit in the future! (id:4069)
Address
638-640 SOMERSET STREET W
List Price
$880,000
Property Type
Retail
Type of Dwelling
Retail
Transaction Type
Sale
Area
Ontario
Sub-Area
Ottawa
Floor Area
1,500 Sq. Ft.
Lot Size
Bldg=26.21 x 110.01 FT Sq. Ft.
MLS® Number
X12956190
Listing Brokerage
RE/MAX HALLMARK REALTY GROUP
Postal Code
K1R5K4
Zoning
TM(2185) H (16)
