Strong Commercial Real Estate Returns in Ottawa
There has been a strong trend of high returns in short amounts of time on commercial real estate within the Ottawa area. One such transactions so far in 2017 is the recent sale of the Value Village store on Clyde Avenue for $7,350,000.00. It is hard to believe, but true, that this former Canadian Tire store sold for just $2,775,000.00 in 2001, resulting in a near tripling of initial investment dollars since then.
Now acquired by the Dymon Self Storage group, this property will likely be repurposed to accommodate a new self storage facility. With Value Village moving and as a pure land play, the purchase price of $60.00/sq.ft. for its ±2.80 acres of commercial land fits the profile of land values in the area, and speaks to strong returns within Ottawa on commercial properties.