$1,899,900
276 POWELL AVE Glebe - Ottawa East And Area, ON K1S 2A5
Save Share
Schedule a Tour
$1,899,900
Est. payment /mo
Pending
276 POWELL AVE Glebe - Ottawa East And Area, ON K1S 2A5
UPDATED:
10/30/2024 08:33 AM
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
Parking Type Unknown
Others
Security Features Unknown
Pets Description Unknown
Listed by SUTTON GROUP - OTTAWA REALTY
GET MORE INFORMATION
