474 Somerset St W is an investment in Ottawa, listed for $938,000.
1Transform this high visibility asset into Commercial space of your own.
2Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100.
3Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest.
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Commercial Property in Ottawa
About 474 Somerset Street West
Location, Location, Location! Transform this high visibility asset into Commercial space of your own. Flexible zoning allows for Mixed use - turn into an OFFICE or have Short term rentals, etc. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa's fastest-growing urban corridors. Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest. Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100,000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116,832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset. Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. ALL Serious offers welcome.
Ottawa investment priced at $938,000 — book a tour to see if it fits your search.
Inside 474 Somerset St W
Every detail from the listing, in one place.
Type
Investment
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Investment
474 Somerset St W Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13732866$938,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 474 Somerset St W Compares to the Ottawa Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Zara’s estimate
$•,•••,•••
Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.
Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.
How long is your commute?
From 474 Somerset St W. Typical times without traffic delays; transit times aren't available yet.
For homeowners nearby
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Ottawa
Other 4-bed homes for sale in Ottawa around $938K.
Average days on market44Homes sold in about 44 days on average.
Sale-to-list ratio97.0%On average, homes sold below asking.
Active listings249Homes for sale here right now.
Median vs prior 90 days+1.4%Compared with Apr 26 – Jul 25, 2026: prices up.
Based on 138 sales from Jul 25 – Oct 23, 2026 (107 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
474 Somerset St W is listed at $938,000 (MLS® X13732866). Summitly updates the price as soon as the MLS® record changes.
Has the price of 474 Somerset St W changed?
No — 474 Somerset St W is still listed at its original asking price of $938,000.
How many bedrooms and bathrooms does 474 Somerset St W have?
The listing for 474 Somerset St W doesn't publish its bedroom and bathroom count. It is a commercial property in Ottawa.
Is 474 Somerset St W close to transit?
The nearest rapid-transit station is Lyon Station (O-Train Line 1), about 690 m (about a 9-minute walk) in a straight line. Parliament Station is about 840 m (about a 10-minute walk), and Pimisi Station is about 1.1 km (about a 14-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 474 Somerset St W compare with other homes in Ottawa?
Its asking price of $938,000 is about 110% above the median sold price in Ottawa over the last 90 days, $446,000, across 138 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 474 Somerset St W been sold before?
Summitly has no earlier MLS® sale or lease of 474 Somerset St W on record from the last two years. Older records aren't shown under TRREB rules.
Where is 474 Somerset St W?
474 Somerset St W is in Ottawa, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 474 Somerset St W been on the market?
52 days — 474 Somerset St W was listed on September 1, 2026.
What is the land transfer tax on 474 Somerset St W?
About $15,235 in Ontario land transfer tax at the asking price of $938,000. First-time buyers can get up to $4,000 back. Legal fees and other closing costs are extra.
How do I book a viewing of 474 Somerset St W or make an offer?
Select "Book a viewing" on this page and pick a time. A licensed Coldwell Banker Summit Realty, Brokerage agent confirms it with the listing brokerage. When you're ready, your agent prepares the offer with you and submits it to the listing brokerage.
What is the property tax for 474 Somerset St W?
The listing for 474 Somerset St W doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Ottawa.
When was 474 Somerset St W built?
The listing for 474 Somerset St W doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
