2208 St Joseph Blvd, Ottawa MLS Number: X6729398

ELEVEN-UNIT STRIP MALL FOR SALE. FULLY LEASED. HIGH-TRAFFIC LOCATION ON ST JOSEPH BLVD IN THE EAST OF OTTAWA. THERE HAVE BEEN 4 NEW LEASES WITHIN THE LAST 6 MONTHS AT THE BUILDING. ALL NEW CONTRACTS ARE FOR FIVE YEARS AT MARKET RENTS WITH ANNUAL ESCALATIONS AND TRIPLE NET LEASE STRUCTURES. SOME OLDER LEASES HAVE RATES WELL BELOW MARKET VALUE GIVING YOU SUBSTANTIAL UPSIDE OPPORTUNITY TO INCREASE RENTAL RATES OVER TEH COMING CYCLE OF RENEWALS. A FIVE-YEAR PROJECTION PLACES THE BUILDING AT A VALUE IN EXCESS OF $6, 700, 000 BASED ON WHERE ON WHER ETHE NET INCOME OF THE BUILDING WILL BE AT THAT TIME. YOU CAN BUY IT FOR $3, 750, 0000 TODAY. THIS IS A WELL-MAINTAINE DPROPERTY WIHT 8 OF THE 10 ROOFT TOP HVAC UNITS HAVING BEEN $3, 750, 000 TODAY. THIS IS A WELL-MAINTAINED PROPERTY WITH 8 OF THE 10 ROOFTOP HVAC UNITS HAVING BEEN REPLACED WITHIN THE LAST FEW YEARS AND THE ROOF REPLACED IN 2018. NO MAJOR CAPITAL COSTS ARE NEEDED FOR MANY YEARS. A CLEAN PHASE 1 ENVIRONMENTAL REPORT WAS COMPLETED.