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$ 1,200,000
Est. payment /mo
New
266 PRESTON STREET N Ottawa, ON K1R7R5
4 Baths
1,650 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1650
Square Footage 1,650 sqft
Price per Sqft $727
Subdivision 4205 - West Centre Town
MLS® Listing ID X13639936
Property Description
Prime mixed-use investment opportunity in the heart of Little Italy! Welcome to 266 Preston Street, ideally situated along one of Ottawa's most vibrant and sought-after commercial corridors. This high-visibility property benefits from constant foot traffic, strong surrounding retail presence, and close proximity to the LRT, Dow's Lake, and downtown Ottawa. Zoned Traditional Mainstreet (TM), this property offers exceptional flexibility for a wide range of commercial and residential uses. The versatile layout presents an excellent opportunity for investors, developers, or owner-operators to generate multiple income streams or establish a flagship business location with residential space above. The upper-level residential unit offers strong income potential, with estimated rent of approximately $2,000 per month, providing an attractive opportunity for additional cash flow or owner occupancy. With continued growth, intensification, and redevelopment along Preston Street, this property represents a strategic long-term hold in a high-demand urban location. Surrounded by established restaurants, cafés, and boutique shops, and positioned in one of Ottawa's most dynamic neighborhoods, this is a rare opportunity to secure a premium mixed-use asset. Vendor Takeback (VTB) available - 25% of purchase price. Structured as a second mortgage behind institutional financing, 2-3 year term, interest rate in the range of 6%-8% (to be negotiated), interest-only payments preferred, with balloon payment at maturity. Flexible terms may be considered depending on buyer qualifications. VTB presents a significant advantage for buyers seeking to reduce upfront capital requirements and improve overall leverage. Ideal for investors looking to maximize returns in a high-demand urban corridor. Don't miss your chance to invest in one of Ottawa's most desirable and evolving main streets. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 3
Garage No
Private Pool No
Listed by ROYAL LEPAGE INTEGRITY REALTY
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