2821 Riverside Drive Ottawa, ON
Total Page：16
File Type：pdf, Size：1020Kb
MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON F O R S A L E Property Details Sale Price: $3,450,000.00 Building Size: 7,383 SF Site Area: 22,918 SF Site Coverage: 32.2% On-Site Parking: 20 Surface Spaces Availability For Sale: 90 days Zoning: GM1 F(1.0) General Mixed Use NOI: $147,660.00 Contact information: Ryan Barresi 99 Bank Street, Suite 700 Vice President Commercial Sales & Leasing Ottawa, ON K1P 6B9 613 780 1578 P: 613 236 7777 [email protected] F: 613 236 5958 Brokerage, Independently Owned & Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON Property Details Carleton University Neighborhood: The building is located across from Mooney’s Bay and Hog’s Back Park. Hog’s Back Recreational amenities close by along the Rideau Canal. The building is in the Mooney’s Bay Riverside Park Airport Parkway community which consists of low and medium density residential housing. The airport is a fifteen minute drive from the site. The site is also within a five minute drive to Carlton University. Transportation Routes: Riverside Drive is a four lane arterial providing express type access to downtown. The Airport Parkway, in close proximity to the site, provides access to the airport. Baseline Road and Hunt Club Road provide primary east-west transportation routes. Contact information: Ryan Barresi 99 Bank Street, Suite 700 Vice President Commercial Sales & Leasing Ottawa, ON K1P 6B9 613 780 1578 P: 613 236 7777 [email protected] F: 613 236 5958 Brokerage, Independently Owned & Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON City and Neighborhood Data The subject property is located on the east side of Riverside Drive, just south of Brookfield Road, in Ottawa’s Riverside Park neighborhood, across from Mooney’s Bay and Hog’s Back Park. More specifically, it is the site of a 1-storey commercial building known municipally as 2821 Riverside Drive, Ottawa. Riverside Park represents one of Ottawa’s more established communities. While most residential development in the area consists of lower and medium density residential housing that dates back to the 1950’s and 1960’s, high density apartment buildings are located along Springland Drive and Norberry Crescent versus newer and large custom build homes along Revelstoke Drive on the shores of the Rideau River. The area is very well known for its many recreational amenities including Mooney’s Bay and the Terry Fox Athletic Facility, Hog’s Back Park and Falls, along with the Rideau Canal and nearby Vincent Massey Park. The Ottawa Macdonald –Cartier International Airport is located further south. Contact information: Ryan Barresi 99 Bank Street, Suite 700 Vice President Commercial Sales & Leasing Ottawa, ON K1P 6B9 613 780 1578 P: 613 236 7777 [email protected] F: 613 236 5958 Brokerage, Independently Owned & Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON Description and Analysis of Site Configuration, Dimensions and Size The subject site is irregular in configuration possessing 14’ of frontage along the east side of Riverside Drive (north part of laneway shared with 2817 Riverside Drive) and overall depth along its longest side of 216.24’. Total site area is 22,918 sq. ft. No Site Survey was reviewed. Subject Site Municipal Services The subject site has access to a full complement of municipal services. Contact information: Ryan Barresi 99 Bank Street, Suite 700 Vice President Commercial Sales & Leasing Ottawa, ON K1P 6B9 613 780 1578 P: 613 236 7777 [email protected] F: 613 236 5958 Brokerage, Independently Owned & Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON Site Improvements and Topography Site improvements include the asphalt laneway from riverside Drive, parking surface in front of the building and upright signage. There is also a landscaped area behind the building that could accommodate additional parking. The subject site is mostly level and at grade with Riverside Drive. Rights-of-Way and Easements Other than the typical public utility easements that encumber most sites along Riverside Drive, there are no atypical rights-of-way nor easements that would otherwise effect Market Value. It is noted that the Addressee reports that he has the benefit of a right-of-way in order to access the rear of his site from the adjacent property to the south (i.e. 2827 Riverside Drive – The War Amps). No Title Search was provided/reviewed. On-site Parking A total of +20 asphalt surface parking spaces are located on the subject site in front of the building. Vehicular ingress/egress to the site is provided via a single point from Riverside Drive. Driveway Access From Riverside Dr. Parking Area (with plug- ins) Contact information: Ryan Barresi 99 Bank Street, Suite 700 Vice President Commercial Sales & Leasing Ottawa, ON K1P 6B9 613 780 1578 P: 613 236 7777 [email protected] F: 613 236 5958 Brokerage, Independently Owned & Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. MULTI-RESIDENTIAL DEVELOPMENT INVESTMENT OPPORTUNITY 2821 Riverside Drive Ottawa, ON City of Ottawa Zoning Based on the new comprehensive zoning by-law for the City of Ottawa, By-law 2008-250, the subject property is part of a GM1 F(1.0), General Mixed-use Sub-zone. Permitted uses in the GM1 zone include such uses as a bank, an office, and a restaurant to name a few. The present use of the subject site represents a permitted use. No Zoning Compliance Report was reviewed. City of Ottawa Official Plan According to the City of Ottawa Official Plan, the subject site lies within an area designated as “General Urban Area”. The present use of the subject site remains consistent with its zoning and Official Plan designation..