2208 ST JOSEPH BOULEVARD

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Description

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. Current rents are 30% 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 rents will raise the property value to more than $6,500,000 once the leases achieve market rent rates around 2027 to 2028 using a 5% cap rate. This is a well-maintained property with 8 of 10 rooftop HVAC units having been replaced within the last few years. There are currently two units available for lease. Unit 113 is an end cap space comprising 1,151 sf. Unit 103 is an inline unit comprising 650 sf. Net rent for new leases starts at $30 psf. Building operating costs are $11 psf. The Seller is not willing to provide vendor financing. (id:21126)

Property Location

Data Provided by REALTORS® Association of Canadian Real Estate

Last Modified: Thu, 11 Aug 2022 19:11:05 GMT

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