111 York Street Ottawa, Ontario K1N 8Y3

$2,549,000

Welcome to 111 York Street a true gem in Ottawa's iconic Byward Market. Exceptional turn-key investment property that will impress anyone looking to add to their portfolio. This mixed-use building offers the perfect blend of commercial and residential, with high foot traffic, great visibility, and multiple income streams. Projected 4.7% cap rate with NOI of $118,623.The main floor retail unit is currently leased to a popular cafe generating $4,100/month in gross rent. Above the retail, discover the crown jewel: a spacious 2-storey loft-style unit with 2,139 sq. ft. Fully furnished and operating as a successful short-term rental, the unit includes 3 bedrooms and 2.5 bathrooms, offering the flexibility to be used as a residence, office space, or continued Airbnb income property. An experienced property manager is in place and ready to continue managing the short-term rental, making this a truly turn-key investment. Main floor retail has approximately 1,275 sq. ft. of usable space, plus an additional office and storage area in the basement. This space is well-equipped for a variety of food and beverage concepts. Featuring ample seating and standing areas, a large patio overlooking green space, fully built-out leasehold improvements, and a prime location steps from the Rideau Centre, University of Ottawa, government offices, and dense residential zones, the possibilities are endless. The building also comes with a large parking lot (approx 24' x 40') behind the building that could be used for further development and expansion. Whether you're an investor looking for a stable asset in a premier location, or a startup entrepreneur seeking a dynamic live/work space, 111 York Street delivers the rare combination of location, versatility, and character. (id:61852)

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https://www.realtor.ca/real-estate/28217992/111-york-street-ottawa-4001-lower-townbyward-market