Aequitas Developments
Commercial Condo Options
Curated purchase opportunities in Ottawa for owner-occupiers and investors — process-focused guidance for a sophisticated buyer.
Available Commercial Condo Inventory
Two buildings, four discrete units. Each option is independently available; Concourse Gate suites can also be combined for scale.
Suite 200
Office condo · Colonnade Business Park · K2E 7V7
- Approx. 2,633 SF
- Seven enclosed offices, reception, boardroom, full kitchen
- Taxes (2025): ~$10,869 / year
- Zoning IG5 · Immediate possession
- Can combine with Suite 205 → ~3,860 SF total
Suite 205
Office condo · Colonnade Business Park · K2E 7V7
- Approx. 1,227 SF
- Three offices (or two + boardroom) + kitchenette
- Taxes (2025): ~$4,808 / year
- Zoning IG5 · Immediate possession · Turnkey
- Can combine with Suite 200 → ~3,860 SF total
Unit 3
Office / Retail condo · Storefront · Built 2018
- Approx. 1,000 SF
- Office / Retail use · ~$450 / SF
- Building: Class B · 2 floors · Zoning LC6
- Parking ratio ~5 / 1,000 SF
- Near South Keys / airport corridor
Unit 12
Office / Retail condo · Storefront · Built 2018
- Approx. 1,700 SF
- Office / Retail use · ~$450 / SF
- Building: Class B · 2 floors · Zoning LC6
- Parking ratio ~5 / 1,000 SF
- Same building as Unit 3 — flexible footprint options
Commercial Condos 101 — From Search to Keys
You already know property and transactions. This is the Ontario commercial condo path with your mandate front and centre.
Property Search & Selection
Identify units with correct zoning and use (office, professional, retail as applicable). Shortlist against Aquitas’ operational and investment criteria. Wesley Stinson runs the survey, filters inventory, and coordinates access.
Offer — Agreement of Purchase and Sale (APS)
Submit APS with standard commercial conditions, typically including a Status Certificate condition. Structure deposit, closing, and HST treatment to match the asset and your holdco / operating entity.
Due Diligence (typically 10–15 business days)
Review Status Certificate: condo corporation financials, reserve fund, bylaws, special assessments, insurance, and unit physical condition. Confirm parking, signage, and use restrictions before waiving conditions.
Financing
Commercial mortgage for owner-occupied product commonly requires 25–35% equity. Engage a commercial mortgage broker early; rate, amortization, and covenants often shape which units are executable.
Closing
Legal transfer of title via your lawyer. Final adjustments for taxes, condo fees, and any prorations. You hold title to the unit and pay monthly condo fees for common elements.
Working Under Mandate with Wesley Stinson
As your mandated buyer’s representative, Stinson Commercial:
- Sources and screens inventory (on- and off-market) against Aquitas criteria
- Coordinates showings, data rooms, and Status Certificate requests
- Drafts and negotiates APS terms with listing brokers
- Aligns counsel, lenders, and inspectors through condition waiver and closing
- Provides conflict-free advice whether you ultimately buy, lease, or pass
Lease vs. Own — Quick Reference
General fallback for discussion. Neither path is universally superior; the right answer depends on hold period, capital, and growth trajectory.
Leasing — Advantages
- Capital preservation for core operations
- Flexibility to right-size space
- Predictable operating expense structures
- Landlord carries major repairs and capex
- Access to prime buildings that may be hard to buy
Buying — Advantages
- Equity accumulation and potential appreciation
- Fixed long-term occupancy cost (mortgage)
- Full control over premises and branding
- Balance-sheet asset; tax tools (interest, CCA)
- Possible rental income from excess space
| Dimension | Lease | Buy (Condo / Freehold) |
|---|---|---|
| Upfront capital | Deposit + fit-out (allowances may offset) | 20–35% down + LTT / legal / HST (~3–6%) |
| Flexibility | High — sublease, assignment, renew | Lower — sell or sublet (timeline 3–12 mo) |
| Long-term cost certainty | Moderate — escalations & renewal risk | High — fixed-rate mortgage locks principal cost |
| Asset / equity | None — rent is expense | Full upside + principal paydown |
| Management burden | Minimal (interior only) | Full — taxes, maintenance, capex, fees |
| Ideal hold | ~1–7 years | ~7+ years (break-even often 7–10) |
| Best suited for | Growth / uncertain space needs | Stable operators, wealth-building, long tenure |
Key questions before deciding
- Planned occupancy under 5 years → usually lease; over 10 → model buy
- Is headcount / space need stable?
- Is 25–35% equity available without impairing operations?
- Would you buy this asset if you were not occupying it?
- Holdco vs. opco ownership structure (tax & liability)
Ottawa market snapshot
- Sub-10,000 SF owner-occupier product remains constrained
- Typical small commercial cap rates often ~5.5–7.5%
- Owner-occupied financing commonly ~5.5–7.0% (5-yr fixed)
- Hybrid work has increased availability of smaller office / flex stock
For general information only — not financial, legal, or tax advice. Stinson Commercial can build a customized lease-vs-buy model for Aquitas’ hold period and capital assumptions.
Recommended Next Steps
Clear actions to move from shortlist to executable transaction under mandate.
Immediate actions
- Confirm priority units (Concourse Gate 200 / 205, Uplands 3 / 12, or combined)
- Schedule private showings via Stinson Commercial
- Align ownership entity (holdco / opco) with counsel and accountant
- Introduce commercial mortgage broker for pre-qualification
How Stinson Commercial supports
- Buyer representation under written mandate
- Offer strategy, APS negotiation, and condition management
- Network of lenders, lawyers, and inspectors for owner-occupiers
- Ongoing inventory alerts before public listing where available
Contact
Wesley Stinson · Commercial REALTOR · Stinson Commercial
stinsoncommercial.ca · Ottawa, Ontario