266 Preston Street N, West Centre Town, ON K1R 7R5
West Centre Town, ON K1R 7R5
About this property
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.
Property facts & features
- Property type
- Investment
- MLS® number
- X13873632
- Source status
- New
- Bedrooms
- Not provided
- Bathrooms
- 4
- Reported interior area
- 1900
- Neighbourhood
- Not provided
- Postal code
- K1R 7R5
- Garage
- None
- Lot depth (source units)
- 99.88
- Annual property tax
- 11809
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- Exterior features
- Not provided
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
New · $1,149,900
Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.
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Explore active properties in West Centre Town →Listing brokerage: ROYAL LEPAGE INTEGRITY REALTY. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13873632. Information deemed reliable but not guaranteed.