$938,000
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474 Somerset Street W, Ottawa, ON K1R5J8

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- Beds
0 Baths
2,809 Sq Ft

HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL | MIXED-USE ZONING. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa's fastest-growing urban corridors.Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest.Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100, 000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116, 832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset.Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. ALL SERIOUS OFFERS WELCOME. (id:58753)

Listing By: Moe McIlwain - RE/MAX HALLMARK REALTY GROUP
Source: CREA #X13167240 Listing provided courtesy of Canadian Real Estate Association
  • MLS® X13167240
  • Date Listed05/24/2026
  • Days on Realty 130 Days
  • Bedrooms -
  • Bathrooms
  • Lot Size -
  • Property Type Office
  • Water Public
  • Square Feet 2,809 sq. ft
  • Price Per Sq. Ft $333.93

Interior Features

  • Appliances Furniture
  • Cooling Fully air conditioned
  • Heating Forced air, Natural gas

Exterior / Lot Features

  • Roof -
  • Lot Size Acres -
  • Lot Size SQFT -
  • Lot Features -

Directions

Cross Streets: In between - Kent Street and Lyon Street. ** Directions: From Queensway E: take Catherine Street exit, turn right onto Bank, then left onto Somerset Street W. From Queensway W: Take exit at Kent Street. Turn left onto Somerset Street W. building will be on left .

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for K1R5J8

Discover key demographics, population statistics, and environmental insights for the Ottawa, ON area.

Walkability in ON / K1R5J8

Source: Walk Score

97/100

Walker's Paradise

Walk Score ®

73/100

Excellent Transit

Transit Score ®

88/100

Very Bikeable

Bike Score ®

Overview

Daily errands do not require a car. Transit is convenient for most trips. Biking is convenient for most trips.

Transit Summary

25 nearby routes: 24 bus, 1 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 68/100, Transit Score: 61/100, Bike Score: 84/100.

Points of Interest near 474 SOMERSET STREET W, Ottawa, ON K1R5J8

Frequently Asked Questions for 474 SOMERSET STREET W

Source: Realty.com

474 SOMERSET STREET W, Ottawa, ON K1R5J8 in Ottawa, ON K1R5J8 is a office listed at $938,000. Highlights include 2,809 sq. ft., $334 per sq. ft.. Realty.ca has 45 photos, sales history, school insights, and mortgage tools for this listing.

Realty.com has 45 photos of 474 SOMERSET STREET W.

The full address for this home is 474 SOMERSET STREET W, Ottawa, ON K1R5J8.

474 SOMERSET STREET W has been listed on Realty.com since Sun May 24, 2026

Daily errands do not require a car. Transit is convenient for most trips. Biking is convenient for most trips.

The average walkability score in the surrounding area is Walk Score: 68/100, Transit Score: 61/100, Bike Score: 84/100.

Listing provided courtesy of: RE/MAX HALLMARK REALTY GROUP
Listing agent: Moe McIlwain

This content last refreshed on 2026-10-01 08:31:43. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.