797-801 Bank Street
OTTAWA, ON

797-801 Bank Street

OTTAWA, ON

PROPERTY DETAILS
Lot Size: 5,231 sf (52.62 ft frontage x 104.74 ft depth)
Building Area: Approx. 2,700 sf main floor & 600 sf second floor
NOI: $175,742 (2024)
Realty Taxes: $31,508.75 (2024)
Asking Price: $3,500,000
797-801 Bank Street
OTTAWA, ON

PROPERTY HIGHLIGHTS
Positioned on the east side of Bank Street between Third and Fourth Avenues.
Parking at rear for 5 cars on site.
Leased to 3 established tenants.
Good quality interior fit up by all tenants
Roof is 7-8 years old; replaced both flat roof and shingles
Tenants pay hydro and heat (gas)
Each tenant installed their own HVAC units.
Zoning: TM3 - Traditional Mainstreet

PROPERTY OVERVIEW
Prime commercial building in the heart of the Glebe - one of Ottawa’s trendiest neighbourhoods! A vibrant mix of restaurants, shops and tree lined streets with a rich history. The building is leased to 3 established tenants including Little Victories Cafe, Magpie Jeweller, and Viens Avec Moi Clothing (view lease terms on the following page below). Ideal investment opportunity.

Lease and Rent Information:
1) Little Victories Cafe– approx. 850 sq. ft.

Rent:
$6150/month plus HST on July 1/2023 plus gas/hydro/garbage.
$6250/month plus HST on July 1/2024
$6350/month plus HST on July 1/2025;
$6450/month plus HST on July 1/2026;
$6550/month plus HST on July 1/2027;
5 year Lease term ends June 30, 2028 plus 5 year renewal.

2) Magpie Jeweller – approx. 850 sq.ft.
Rent:
$5700/month plus HST plus gas & hydro & garbage.
Month to Month Lease.

3) Viens Avec Moi – approx. 1000 sq. ft. plus 600 sq ft on second floor
Rent:
$5900/month plus HST on June 1/2025 plus gas & hydro & garbage.
$6000/month plus HST on June 1/2026;
$6100/month June 1/2027;
$6200/month on June 1/2028;
$6300/month on June 1/2029
5 year Lease term ends June 30, 2028 plus 5 year renewal.
Total Gross Income:
$6350/mth + $5700/mth + $5900/mth = $17,950/mth = $215,400/Year (as of July 1/2025)

Snow Plowing: $1,100 (1/2 of total bill shared with neighbour)

Total Expense: $39,658

Projected Net Operating Income (2024):

$216,600- $39,658 = $175,742 per annum
Operating Costs:
Annual Operating costs (2024)
Property Taxes: $31,508
Building Insurance: $4,600
Water: $2,450

Contact: Gary Shaker