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638-640 Somerset Street, Ottawa, ON 26 photos

$880,000

Active
638-640 Somerset Street, Ottawa, ON· Ottawa Centre
2200
Sq Ft

About this Property

Prime mixed-use opportunity in the heart of Centretown. This detached 2-storey property offers flexible TM zoning allowing for residential, commercial, or mixed-use, making it ideal for investors, business owners, or live/work scenarios. Currently configured as two self-contained units and a bonus accessory unit with a separate vestibule entrance, with the option to convert to a 4-bedroom residential layout.Positioned on a 110 ft deep lot with ample on-site parking, this well-maintained building is clean, functional, and full of upside. The main level was previously operated as a restaurant and is set up to meet fire and safety requirements (buyer to verify), while the upper unit features a private balcony. The property also includes a dry basement, adding usable storage or future potential.Recent updates include over $80,000 in upgrades and major components such as roof, furnace, and A/C (approx. 2013-2014). According to MPAC, the property is recognized as a triplex with residential and commercial/industrial use, providing strong long-term flexibility and redevelopment potential.Unbeatable location just steps to Little Italy, Chinatown, LeBreton Flats, and within walking distance to the LRT, offering excellent access to transit, amenities, and future growth.Investor bonus: opportunity to acquire the neighbouring property for a potential land assembly.A rare, versatile asset in a high-demand urban corridor. Great for an investment now, maybe a owner-operated unit in the future!

Listed by RE/MAX HALLMARK REALTY GROUP · MLS# X12956190

Features & Details

Property details of 638-640 Somerset Street, Ottawa, ON

Property TypeCommercial Retail
StyleRetail
Size2200 sq ft

Mortgage Calculator

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Mortgage Payment$4,323/monthly
Principal54%
Interest46%
Principal Amount$704,000
Interest$592,953
Total Payable$1,296,953
Amortization25 years

* Estimate only. Consult a mortgage broker for accurate figures.

Cash Flow Analysis

Mortgage payment$4,323
Mortgage + Expenses$4,323
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$
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$
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Monthly Cash Flow-$4,323

* Estimate only. Consult a mortgage broker for accurate figures.

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Akash Sharma

Akash Sharma

REALTOR® · Ali Realty Group Inc.

Ottawa's trusted real estate partner with 170+ successful transactions and $30M+ in sales.

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