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276 Powell Avenue Ottawa, Ontario K1S 2A5

3000 sqft

$1,899,900

6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City’s principal residence requirement for STR (Airbnb). Classified as a “legally non-conforming hotel” with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout. Summer STR revenue will be HOT! Act Now! (id:56483)

Business

Business Type Other
Business Sub Type Other

Property Details

MLS® Number 1380823
Property Type Business
Neigbourhood Glebe
Parking Space Total 4

Building

Constructed Date 1922
Size Interior 3000 Sqft

Land

Acreage No
Size Depth 99 Ft
Size Frontage 40 Ft
Size Irregular 40 Ft X 99 Ft
Size Total Text 40 Ft X 99 Ft
Zoning Description Commercial/mixed Use

https://www.realtor.ca/real-estate/26604185/276-powell-avenue-ottawa-glebe

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Frank Andree
Broker

(613) 867-6907

Sutton Group - Ottawa Realty
4 - 1130 Wellington St West
Ottawa, Ontario K1Y 2Z3

(613) 744-5000
(613) 744-5001
suttonottawa.ca

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