For Sale · Office

365 RICHMOND ROAD, Ottawa

365 RICHMOND ROAD, Ottawa, ON K2A0E7

$5.3M total

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Asset Class

Office

Size

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Building class

C

Zoning

DC1 — Direct Control

$ / SF

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Occupancy

95%

About this property

Welcome to 365 Richmond Road, a beautiful commercial property located in Westboro available for sale for the first time in over 50 years! A rare and unique opportunity to acquire a stunning 6,000 SF office and retail property with a striking street front address. This property was initially built in 1913 by John E. Cole for the Bank of Ottawa to support the demand for a much needed local financial institution. Currently home to the Frontline Financial Credit Union and to Core Connections Physiotherapy, this property has been serving the community ever since. 365 Richmond Road is nestled in one of the city's trendiest neighbourhood's which hosts an exiting mix of retail boutiques, pubs, cafés, top tier dining experiences, art galleries, the GCTC, health and fitness studios, to name a few, combined with beautiful green landscapes and a connection to nature. In this area, whether you're at work or at home, people have access to walk and cycle alongside the Ottawa River, kayak the nearby rapids or rest at the beach. This property's premium location also includes convenient access to public transit, the highway and several important event centres such as Lebreton Flats, Parliament Hill, Gatineau Park and the Experimental Farm. With 76 feet of premium frontage on Richmond Road, 0.33 acres of land and a large parking lot, this commercial building in Westboro has it all. (id:66811)

Financial sandbox

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Estimate
Purchase price$5.25M
Down payment30% · $1.57M
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$24K

Projected NOI

$380K

Annual cash flow

$89K

Cash-on-cash

5.64%

DSCR

1.31

Going-in cap

7.23%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

68,209

Households

27,260

Median income

$83,500

Median age

44.4

Daytime population

97,478

5-yr growth

3.1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 365 RICHMOND ROAD, Ottawa.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.