2208 ST JOSEPH BOULEVARD$3,750,000

A ten-unit strip mall for sale. High traffic location on St Joseph Blvd, a main retail corridor in the East end suburb of Ottawa. Most of the leases have rental rates below market value giving a sophisticated investor a substantial upside opportunity to increase cash flow and property value over the coming cycle of lease renewals. The property has been valued based on its current financial performance. Investment projections illustrate the embedded rent increase opportunity will raise the property value to more than $6,500,000 around 2027 to 2028. This is a well-maintained property with 8 of 10 rooftop HVAC units having been replaced within the last few years. There is one unit available for lease comprising 1,151 square feet plus an additional 1,809 square feet of adjacent space currently rented month-to-month, that could be made available with 60 days' notice. The combined available space can be 2,910 SF. A phase 1 environmental report was completed in march 2023 and is available. (id:46641)