339 CUMBERLAND STREET$1,790,000

#1308754

N/A bed

N/A bath

About the Property

A boutique multifamily development site located in the heart of Ottawa's ByWard Market. The Seller has secured a professional feasibility study to establish the highest & best use for the site along with preliminary conceptual drawings including floor plans. The concept proposes a boutique loft-style building consisting of 4 floors & 18 spacious upscale bachelor units. The drawings include a bike storage room & mini locker room that will produce additional rental revenue. The zoning is excellent allowing for the building to be placed up to the lot line without any requirements for setbacks or on-site parking. The concept is complete with a rooftop terrace adding a premium amenity to the building for tenants. The design floorplate is 3,207 sf with an overall building footprint of 10,652 sf. The Seller is willing to discuss terms for a VTB. The projected value of the finished project based on current design specifications is in excess of $5,200,000 using the income approach. (id:46641)

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Listing Agent

Mitch Gauzas

Salesperson

(613) 829-1818

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Property Details

City: Ottawa

Neighbourhood: Lower Town/ByWard Market

Lot Size: 0.08 ac

Property

Property Type

Vacant Land

Ownership Type

Freehold

Land Size

0.08 ac

Land Depth

66 ft

Building

Measurements

Additional Info

Listing Contract Date

2022-08-15

Zoning Description

GM[2542]

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