339 CUMBERLAND STREET

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Description

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:21126)

Property Location

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Last Modified: Sat, 07 Jan 2023 00:11:46 GMT

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