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339 Cumberland Street Ottawa, Ontario K1N 7J3

$1,790,000

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:45745)

Property Details

MLS® Number 1308754
Property Type Vacant Land
Neigbourhood Lower Town/ByWard Market

Building

Land

Acreage No
Size Depth 66 Ft
Size Frontage 54 Ft
Size Irregular 0.08
Size Total 0.08 Ac
Size Total Text 0.08 Ac
Zoning Description Gm[2542]

https://www.realtor.ca/real-estate/24776821/339-cumberland-street-ottawa-lower-townbyward-market

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Mitch Gauzas
Salesperson

(613) 829-1818
www.mitchgauzas.com
https://www.facebook.com/michgauzasrealestate/

Keller Williams Integrity Realty
2148 Carling Ave., Units 5 & 6
Ottawa, Ontario K2A 1H1

(613) 829-1818
(613) 829-3223
www.kwintegrity.ca

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