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$1,495,000
For Sale
89/91 Murray Street, Lower Town - Sandy Hill, ON K1N 5M5
Lower Town - Sandy Hill, ON K1N 5M5
Property Sub Type
Investment
Property Type
Commercial
Property Use
Apartment
Rare opportunity in the heart of the ByWard Market. Fully tenanted mixed-use building and an additional freestanding commercial building. Two prime retail spaces and two extensively renovated 2 bedroom apartments. Well maintained property. NOI $89,857. Seller will consider a VTB. Zoning is MD2 S72 Mixed-Use Downtown Zone which allows for further development. Will provide new build report for rear of property. 89 Murray is a three-story building with ground floor retail and two residential units on the upper floor, representing 2700 sq ft. 91 Murray is a separate unique one-story building at the rear of the property with 1,400 sq ft. 89 Murray - New asphalt shingle roof 2024. 200 amp main distribution panel, with each unit separately metered. One forced air gas fired furnace for the commercial ground floor unit & one for the two apartment units. 89 Murray Residential - Two 2 bedroom identical units have been extensively updated. Two storey apartments with hardwood floors & 6 appliances. Quartz countertops & newer cabinetry. Modern baths with gorgeous showers. Currently rented for $2000 each. Landlord pays water & heat. 89 Murray Retail - This space is air conditioned. The Barber Shop has been leased for 7 years. $3407 + additional expenses. 91 Murray Retail - The interior consists of 3 open living spaces, one with a wet bar area. There is an additional office, a bedroom area & a 3 piece bath. Extensively renovated in 2011 with new exterior EFIS, new roof, plumbing, interior walls, etc. New HVAC system installed 2024. Central air & forced air gas furnace. Separately metered for hydro & gas. Leased for $2825 + common expenses (including property taxes, snow clearing & maintenance). 2 non-conforming parking spaces. One residential unit will be vacant upon possession, as it is currently owner occupied. One of the Ottawa Mayor's top priorities for 2025 is to revitalize the ByWard Market by enacting a $129M plan before 2027. 48 hrs for showings & 24 hrs irrev on offers
