Opportunity knocks with this prime 10,828.48 sq.ft. parcel (outlined in RED) located approximately 500 metres from the Tunney's Pasture LRT Station. The property is currently improved with an income-generating parking lot and a separate specialty automotive repair/collision facility, offering both holding income and future redevelopment flexibility. A wide range of possibilities exist: maintain the current legal non-conforming commercial use, occupy as an owner-user, pursue a potential severance, redevelop part or all into a low-rise residential project, or assemble with neighbouring parcels to maximize density potential. For developers and investors seeking an assembly opportunity, the property may be combined (at additional cost) with 143 Forward Avenue (duplex; PIN 040960062; 4,919 sq.ft.) and 144 Hinchey Avenue (duplex; PIN 040960073; 2,454.17 sq.ft.), with the potential to also incorporate a closed City of Ottawa parcel (PIN 040960270; 742.71 sq.ft.) and 148 Hinchey Avenue(duplex; PIN 040960074; 2,701.74 sq.ft.), for a total potential assembly of approximately 21,746.10 sq.ft (area outlined in YELLOW). FOTENN Development Options Report, income/expense statements, rent roll, and supporting due diligence materials available upon execution of a signed NDA. (id:4069)
Address
140 HINCHEY AVENUE
List Price
$2,195,000
Property Type
Vacant Land
Type of Dwelling
Vacant Land
Transaction Type
Sale
Area
Ontario
Sub-Area
Ottawa
Lot Size
50.21 x 215.71 FT Sq. Ft.
MLS® Number
X12813586
Listing Brokerage
SUTTON GROUP - OTTAWA REALTY
Postal Code
K1Y1L4
Zoning
R4UD
