For Sale · Office

3844 ALBION ROAD, Ottawa

3844 ALBION ROAD, Ottawa, ON K1T1B1

$599,000 total

1,972 SF

Asset Class

Office

Size

1,972 SF

Building class

C

Zoning

CB2 — Central Business

$ / SF

$304

Occupancy

95%

About this property

This property has been used for decades as a medical office and enjoys Legal Nonconforming use for a medical office . This would provide an independent medical practitioner the opportunity to own their own space as opposed to renting , and serving a neighbourhood once again that enjoyed a local practitioner for decades in the past. The N2D (exception 637) Zoning indicates allowed use as a daycare or school . Various residential uses are also allowed and the large side yard may provide for an additional attached dwelling. All uses are to be confirmed independently by the Buyer and are not warranted . The corner lot with a large double driveway provides ample parking and access from a low traffic street. The basement is finished with a kitchenette and full bath providing the opportunity for generating tenant income , or extended family living space. This is an estate sale and 48 hours to deal with executors on offers would be appreciated . As in most estate sales, the property is offered by the executors in " as is " condition and nothing can be warranted . The dates on mechanicals seem to indicate 2015 for Furnace and Central Air, Roof under 10 years , and windows are vinyl and appear to be in good condition . Looking forward to hearing your thoughts on feedback and reviewing your offers. (id:66811)

Financial sandbox

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Estimate
Purchase price$599K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$40K

Annual cash flow

$7K

Cash-on-cash

3.83%

DSCR

1.21

Going-in cap

6.69%

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.

Rent roll (estimated)

TenantAreaExpiry
Halcyon Wealth Partners951 SF2033-03
Halcyon Wealth Partners917 SF2033-03

Area demographics

Trade area within 3 miles of the property.

Population

118,287

Households

43,144

Median income

$136,000

Median age

37.5

Daytime population

172,675

5-yr growth

9.3%

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

Secure deal room

Confidential diligence documents for 3844 ALBION 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.