374 Mcarthur Ave
Ottawa, K1L6N7
For Sale
$1,990,000
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Designated
CATEGORY12,572 Sq Ft
TOTAL AREAX8016124
MLSIDContact Us
Property Description
Vacant lot with shovel ready development project. Site plan approved for a 6-storey, 64-unit residential building appraised at $22M+ with ground level parking, bike storage, lockers, laundry, a gym, and more. Building permits are 75% done and land is appraised at $2.6M. Ideal for any real estate developers, or builders.
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Extras
The development scores a 100% energy rating which qualifies for CMHC MLI Select Financing program. Buyer can take advantage of heavily subsidized CMHC loans, including 50-year amortization and lowest interests rates on the market
Property Details
Category
Designated
Usage
Residential
Zoning
TM
Total Area
12,572 Sq Ft
Lot Size
66' x 191'
Taxes
$3,837 (2023)
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Listing contracted with International Realty Firm, Inc.
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Premium opportunity to acquire approximately 53,669 SF (1.25 acres) of heavy industrial zoned land with warehouse space in the heart of the Hawthorne Business Park. Currently owner-occupied by Paranis Construction Inc., the site is improved with an approximate 3100 SF warehouse space with a large garage door (16 ft x 16 ft). Strategically situated less than one kilometer away (as the crow flies) from the Highway 417 interchange at Hunt Club Road.
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