116 York Street Ottawa, Ontario K1N 5T5

$8,265,000

Prime 10,900sf development site located less than 150 feet East of the prominent corner of Dalhousie Street and York Street, where the Andaz Hotel currently towers. Base Price of 8.265M is based upon an expected height/density potential of apx 87,000 sf of GFA above grade over 12 stories; purchase price subject to an additional consideration of $45/sf of GFA achieved over 87,000sf (if applicable). Buyer responsible for entitlements process and all due diligence. The site is best suited for the development of a residential condo/apartment building, though the zoning (Mixed Use Downtown Zone) allows for a multitude of other uses. Phase 1 ESA, Geotechnical investigation, Survey, Potential Design Briefs on file (many documents currently available via the City of Ottawa's Development Applications Search tool). Gross Revenue from parking operator on the site: $112,000 (2021). 2022's gross income expected to exceed 2019 (pre-pandemic) levels of $162,000. (id:49072)

Property Details

Building

Land

https://www.realtor.ca/real-estate/24521864/116-york-street-ottawa-byward-market