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4 Baths

C$895,000

575 Somerset Street W, Ottawa Centre ON, K1R 5K1

Property typeCommercial

Overview

Active

New

Listed Sep 9, 2026

Updated 4 weeks ago

Rare dual-opportunity in the heart of Centretown. Buy cash flow today, build tomorrow. Three tenanted units generating verified income with a vacant basement offering additional income potential. Included is a complete, permit-ready 10-unit redevelopment package - full architectural, servicing, grading, electrical and tree reports. Building and demolition permits submitted to the City of Ottawa; first-round review complete with standard infill comments issued. Buyers can revise or proceed to resubmission under their own name. Set up for MLI Select financing: up to 95% LTV and 50-year amortization. Accessible lift included in plans with potential to add 2 additional storeys. 33' x 112' lot. 4 parking spaces. Walking distance to Bank St, Elgin, and Little Italy. Close to grocery, retail, dining, transit and LRT. Unit mix: 2 x 2-bedroom, 1 x 1-bedroom (tenanted) + basement unit (vacant). Permit-ready package, architectural drawings, and financials available. Contact listing agent for data room access.

Additional information

MLS® ID
X13758910

Interior Features

Bathrooms
4
Cooling
Yes
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.09 Acres

Other Property Details

Taxes
$7,562
Tax Frequency
Annually

 

Courtesy of Listed by , PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.,

Based on information from the Toronto Regional Real Estate Board. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. Information is deemed reliable but is not guaranteed accurate.

©2026 Toronto Real Estate Board. All rights reserved. 

Data last updated 2:30 AM UTC, 9/10/2026

 

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