Investment Offering 2062 ST JOSEPH BOULEVARD OTTAWA, ON Partnership. Performance. Investment Opportunity Long Standing Tenants in Place Asking Price $1,200,000.00 100% Leased Ed Belanger, Sales Representative, Vice-President 613.696.2738 ed.belanger@avisonyoung.com
Investment Offering Offering This offering consists of the sale of a commercial investment property in Ottawa (Orleans), Ontario. Property Profile 2062 St. Joseph Boulevard privately owned, one-storey multi-tenant retail building with a full basement. The building is architecturally pleasing with unique roof lines that add a certain cache to the building. The main level is demised into four tenants, with Lacroix Sports occupying most of the building. Lacroix Sports built the building in the mid-80s prior to selling it to the current owners in 2015. Asking Price Summary $1,200,000.00 2017 NOI $68,577.00 CAP Rate 5.7% Financing Free and Clear Tenancy Finishes include carpet flooring, drywall walls, acoustic tile and stippled drywall ceiling. The mezzanine area comprises a kitchen and office space. Lacroix Sports: 3,036 sf, including 753 sf of mezzanine space + additional basement premises of 3,283 sf of basement space Trophées Martin, Jo-Anne Bazinet Homeopathy and M5 Digital occupy 1,000 sf combined The entrance to the building provides direct access to two front office units and Lacroix Sports. The Trophy shop is on the ground floor within the Occupancy Lacroix Sports premises. Gross Leasable Area 7,319 square feet, including, 3,283 square feet in the basement. Site Size 11,408 sf 100% Lease Expiries Lacroix Sports: March 31, 2020 (tenant since 1986) Jo-Anne Bazinet: December 31, 2022 Trophées Martin: December 31, 2020 M5Digital Products: May 31st, 2018 (prospective tenant currently in negotiations) Options to Renew No options to renew with any of the tenants Zoning AM 3 - Arterial Mainstreet Zone Type of Lease Gross Leases in place with all tenants Realty Taxes Final Realty Taxes 2017 - $22,676.00
Location Attributes
Investment Offering 2062 St Joseph Boulevard, Ottawa ON Location Attributes The Subject Property is located in the community of Orleans in Ottawa s east end on the major commercial node of St. Joseph Boulevard and only 15 kilometers from downtown Ottawa. It benefits from its location proximate to numerous commercial amenities. Orleans straddles the two former municipalities of Gloucester and Cumberland. Cumberland is primarily a rural township, with the exception of the community of Orleans, a suburb or Ottawa that is characterised by a high concentration of younger households and a rapid growth of new dwellings. Orleans is comprised of a number of residential neighbourhoods, a major retail strip along St. Joseph Boulevard and a commercial node along Innes Road between Tenth Line and Mer Bleu Roads, and a number of small industrial parks that are close to capacity. The property located at 2062 St. Joseph Boulevard is located immediately east of Jeanne D Arc Boulevard, a high traffic commuter road which connects the property to Ottawa s main East-West thoroughfare known as Highway 174 and Highway 417. The immediate area is a built up residential neighbourhood areas which completely surrounds the commercial area including Gloucester to the West, Convent Glen to the North, Cumberland to the East and Chapel Hill to the South. These newer homes in the surrounding areas were built starting from the early 1980 eighties and continue to this day. The area in and around the subject property is undergoing some gentrification as older homes or commercial properties are being replaced or redeveloped. Major employers in the area include the RCMP, Montfort Hospital, Canada Mortgage and Housing Corporation (CMHC), National Research Council of Canada (NRC), Canadian Security Intelligence Service (CSIS) and Communication Services Establishment (CES) to name but a few. Location Attributes p4
Property Details
Investment Offering 2062 St Joseph Boulevard, Ottawa ON Property Details p6
Investment Offering 2062 St Joseph Boulevard, Ottawa ON Location 2062 St. Joseph Boulevard, Ottawa, (Orleans) ON Total Building Area Above grade - 4,036 sf (including mezzanine of 753 sf ) Below grade 3,283 sf Site Area 11,408 sf Parking Asphalt parking for 14 vehicles Legal Description Part of Lot 5, Concession1 Ottawa Front, being Part 1 on Plan 5R-4187, except Part 1 on Plan 5R-10802, in the former City of Gloucester, now the city of Ottawa. Pin Number 04417-0114 HVAV Heated with two gas fired forced air furnaces and provided central air conditioning Zoning AM3 - Arterial Mainstreet Zone Property Details p7
Investment Offering 2062 St Joseph Boulevard, Ottawa ON Location Map 2062 St Joseph Boulevard Property Details p8
AM3 - Artertial Mainstreet Zone
TABLE 185 - AM ZONE PROVISIONS
Ed Belanger, Sales Representative, Vice-President 613.696.2738 ed.belanger@avisonyoung.com avisonyoung.com The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.