$1,149,900
Available - For Sale
Listing ID: X13873632
266 Preston Street North , West Centre Town, K1R 7R5, Ottawa
| Prime mixed-use opportunity in the heart of Little Italy! Welcome to 266 Preston Street, ideally located along one of Ottawa's most vibrant and established commercial corridors. Excellent street presence and visibility, surrounded by restaurants, cafés, shops, residential developments and neighborhood amenities. The main-floor commercial space is currently configured as a turnkey restaurant, providing an excellent opportunity for an operator to establish or expand a food-service business with much of the existing infrastructure already in place. The versatile commercial layout could also be reimagined for other uses, potentially including a medical or wellness clinic, professional offices, convenience store, specialty retail, personal services, showroom or other commercial concepts, subject to zoning and approvals. Zoned Traditional Mainstreet (TM), the property offers flexibility to retain the existing restaurant operation or renovate and reposition the space for a different business model. The upper-level residential unit provides an additional income stream, with estimated rental potential of approximately $2,000/month, or could provide convenient accommodation for an owner-operator. Located close to the LRT, Dow's Lake and downtown Ottawa, with continued growth and intensification along Preston Street, this property offers strong long-term potential in one of Ottawa's most recognizable neighborhoods. Vendor Takeback (VTB) available - up to 25% of purchase price. Proposed as a second mortgage behind institutional financing, with a 2-3 year term, interest rate of approximately 6%-8% (negotiable), interest-only payments preferred and balloon payment at maturity. Flexible terms may be considered based on buyer qualifications. Whether you're seeking a turnkey restaurant, commercial space for a new business, conversion opportunity or mixed-use investment, 266 Preston Street offers location, visibility, flexibility and financing options. |
| Price | $1,149,900 |
| Taxes: | $11809.00 |
| Tax Type: | Annual |
| Occupancy: | Owner |
| Address: | 266 Preston Street North , West Centre Town, K1R 7R5, Ottawa |
| Postal Code: | K1R 7R5 |
| Province/State: | Ottawa |
| Directions/Cross Streets: | Preston and Gladstone |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Retail |
| Building Percentage: | T |
| Total Area: | 1650.00 |
| Total Area Code: | Square Feet |
| Area Influences: | Major Highway Public Transit |
| Approximatly Age: | 51-99 |
| Days Open: | O |
| Sprinklers: | No |
| Washrooms: | 4 |
| Outside Storage: | F |
| Soil Test: | No |
| Clear Height Feet: | 6 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
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| ROYAL LEPAGE INTEGRITY REALTY |
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Saleem Akhtar
Sales Representative
Dir:
647-965-2957
Bus:
416-496-9220
Fax:
416-496-2144
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | West Centre Town |
| Neighbourhood: | 4205 - West Centre Town |
| Approximate Age: | 51-99 |
| Tax: | $11,809 |
| Baths: | 4 |
| Fireplace: | N |
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