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$1,200,000
Available - For Sale
Listing ID: X13639936
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 $1,200,000
Taxes: $11,809
Tax Type: Annual
Occupancy by: 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
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Washroom 11:  0
Washroom 12:  0
Washroom 13:  0
Washroom 14:  0
Washroom 15:  0
Washroom 16:  0
Washroom 17:  0
Washroom 18:  0
Washroom 19:  0
Washroom 20:  0
Category: Retail
Building Percentage: T
Total Area: 1,650
Total Area Code:  Square Feet
Area Influences: Major Highway   Public Transit
Approximatly Age: 51-99
Days Open: O
Maintenance: 0
Sprinklers: No
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

266 Preston Street North , West Centre Town, K1R 7R5, Ottawa

Personal Picture
Arash Salehrad
Broker
Dir:
(647)402-5949
Bus:
(905)508-9500
Fax:
(905)773-3861

 
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Type: Com - Investment
Area: Ottawa
Municipality: West Centre Town
Neighbourhood: 4205 - West Centre Town
Style:
Lot Size: x 99.88(Feet)
Approximate Age: 51-99
Tax: $11,809
Maintenance Fee: $0
Beds: 0
Baths: 4
Garage: 0
Fireplace: N
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Personal Pic Arash Salehrad Broker pic arashsalehrad@gmail.com RE/MAX REALTRON REALTY INC., Brokerage Independently owned and operated. pic 13321 Yonge St., Unit 203, Richmond Hill, Ontario L4E 3L3 pic Office: (905)508-9500 | Fax: (905)773-3861 | Cell: (647)402-5949