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FOR SALE 174 FIRST AVENUE OTTAWA, ONTARIO 174 FIRST AVENUE LANSDOWNE PARK | TD PLACE 174 FIRST AVENUE 174 FIRST AVENUE | OTTAWA, ONTARIO | OTTAWA, 174 FIRST AVENUE CBRE | MARKETING FLYER THE OPPORTUNITY CBRE Limited (“CBRE” or the “Advisor”) has been retained by the Seller to act as its exclusive advisor to facilitate the sale of 174 First Avenue (the “Property”), a former community hall located in Ottawa, Ontario. Situated in the heart of Ottawa’s Glebe neighbourhood, the Property occupies a prominent position near the corner of First Avenue and Bank Street. The 0.2-acre site is currently improved with a 2.5 storey building that could accommodate many uses including office. The ground floor is partially below grade and is currently occupied by a Children’s Preschool, an electrical room, boiler room, washroom and custodial room, and storage areas. The two floors above grade consist of private offices, large dance/fitness school rooms, washrooms and common areas. The site is zoned TM- traditional mainstreet which permits a broad range of uses. Given its off-Bank Street location and flexibility of uses, 174 First Avenue presents a unique opportunity for an owner-user or investor. The Seller has recently upgraded all major building systems to include a new 10 ton HVAC system, new electrical, new windows, new washrooms, and new security system. PROPERTY DETAILS Address 174 First Avenue, Ottawa, Ontario K1S 2G3 PIN 041330225 Legal Description LTS 34 & 35, PL 35085 , S/S OF FIRST AV ; OTTAWA/NEPEAN Building Area 5,800 square feet + 2,900 square feet in the lower level Site Area ~ 8,223 square feet Year Built 1957 # of Storeys 2.5 Parking 10 surface stalls Zoning TM – Traditional Mainstreet Taxes (2019) $23,860 Asking Price $3,100,000.00 4 5 174 FIRST AVENUE | OTTAWA, ONTARIO | OTTAWA, 174 FIRST AVENUE CBRE | MARKETING FLYER SURROUNDING AREA ALTA VISTA NEARBY AMENITIES BILLINGS BRIDGE 1 TD PLACE BRONSON AVENUE 2 CRAFT BEER MARKET OLD OTTAWA SOUTH 3 SPORTING LIFE COLONEL BY DRIVE 4 WHOLE FOODS LANSDOWNE PARK 1 2 5 LCBO 3 7 6 4 6 WINNERS 5 8 7 VIP CINEPLEX THEATRES 9 GLEBE GLEBE 10 8 KETTLEMAN’S BAGEL CO. FIFTH AVENUE MERIALE ROAD 11 WEST HUNT LUB ROAD 9 BEER STORE LYON STREET SOUTH FOURTH AVENUE 12 10 BOOSTER JUICE THIRD AVENUE 13 11 SCOTIABANK 174 FIRST AVENUE 12 CANADA POST SECOND AVENUE 14 13 METRO FIRST AVENUE 14 RBC ROYAL BANK 15 15 SHOPPERS DRUGMART LEOPATRA DRIE GLEBE AVENUE 16 KUNSTADT SPORTS BANK STREET AMELOT DRIE 17 BANDITOS 17 16 6 7 174 FIRST AVENUE | OTTAWA, ONTARIO | OTTAWA, 174 FIRST AVENUE CBRE | MARKETING FLYER PROPERTY PHOTOS 8 9 174 FIRST AVENUE | OTTAWA, ONTARIO | OTTAWA, 174 FIRST AVENUE CBRE | MARKETING FLYER NODE OVERVIEW | GLEBE The Glebe is considered to be one of the most desirable areas in Ottawa. From the picturesque heritage homes to the vibrant Lansdowne Park, the Glebe is an attractive place for young professionals, families and retirees to live, work and play. The Glebe is bordered by the Rideau Canal and Commissioners Park, which hosts the annual Tulip Festival filled with over 300,000 tulips each year. The Rideau Canal is a local favourite for runners and cyclists during summer months and becomes the world’s longest skating rink in the winter. Lansdowne Park is a popular destination in the Glebe that attracts people from all over the city to take in local entertainment, sporting events and concerts or just to enjoy a night out at one of the many restaurants. The HOME THE recently completed Lansdowne Park redevelopment delivered 230 new residential units, 360,000 sq. ft. of TO GREATGLEBE retail space, 100,000 sq. ft. of office space and a revitalized TD Place Stadium, which is home of the Ottawa LEGENDARY Redblacks CFL team and the Ottawa Fury FC. GARAGE SALE ONE OFOTTAWA’S ALL YEAR ROUND MOST ELITE NEIGHBOURHOODS FARMERS MARKET | ABERDEEN PAVILION 10 11 174 FIRST AVENUE | OTTAWA, ONTARIO | OTTAWA, 174 FIRST AVENUE CBRE | MARKETING FLYER SALE PROCESS Based on information contained in this information package and other information contained in the data room, access to which will be provided electronically and upon signing a Confidentiality Agreement, interested parties are invited to submit an offer to purchase. None of the initial offers, regardless of their form and content will create any binding legal obligations upon the Seller or CBRE. Neither the Seller nor CBRE make any representation, warranty, or any agreement whatsoever, that the Seller will accept any agreement of purchase and sale, before or after negotiations, or, that the Seller or CBRE, shall compensate any participant for any costs incurred in its participation in the process. No showings without LA. No showings during normal business hours. No offer shall be entertained until after 12:00 noon, August 19, 2020. Offers will be evaluated, among other criteria, on the consideration offered for the Property, the prospective buyer’s ability to complete the transaction and the proposed terms of closing (all cash). Prospective buyers should note that the Seller is under no obligation to select any of the offers. DATA ROOM Upon signing a Confidentiality Agreement, qualified parties will be provided access to the electronic data room. The data room contains all of the relevant documents related to the property. DUE DILIGENCE The Property is being offered on an “as is, where is” basis, and that no such representations or warranties have been made by the Seller, or anyone acting on its behalf, as to the condition of the Property or any buildings located thereon. Parties are invited to inspect the Property and review all due diligence material available in the data room, prior to the submission of any offer. Property inspections may be arranged by appointment through CBRE. ADVISOR The Advisor is acting solely as the agent for the Seller and not as the agent for the purchaser. All inquiries regarding the Property or any information contained in this CIM should be directed to CBRE Limited, Brokerage, as Advisor for the Seller: CBRE Limited, Brokerage Erik Falardeau* Ottawa Office Vice President 333 Preston Street, 7th Floor 613 788 3791 Ottawa, Ontario K1S 5N4 [email protected] *Sales Representative 12 13 CBRE Limited, Real Estate Brokerage 333 Preston Street 7th Floor | Ottawa, Ontario | K1S 5N4 | T 613 782 2266 | F 613 782 2296 | www.cbre.ca ERIK FALARDEAU* Vice President 613 788 3791 [email protected] *Sales Representative This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights eserved.R.
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