276 POWELL AVE Pending Save Request In-Person Tour Request Virtual Tour
Glebe - Ottawa East And Area,ON K1S 2A5
Key Details
Property Type Commercial
Sub Type Sale Of Business
Listing Status Pending
Purchase Type For Sale
MLS Listing ID X9515157
Annual Tax Amount $9,274
Tax Year 2024
Property Description
6.4% cap rate with gross annual revenue over $210K and NOI of $122K - 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. 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.
Location
Province ON
County Ottawa
Area 4401 - Glebe
Rooms
Family Room No
Interior
Cooling Unknown
Exterior
Garage Spaces 4.0
Pool None
Utilities Available Unknown
Roof Type Unknown
Others
Pets Description Unknown