499 Preston Street
499 Preston Street
$2,450,000
$563/sq ft· Bldg avg $806/sq ft · 27 days on market
About This Listing
One of Ottawa's most distinctive commercial addresses is now available for acquisition. This 1983 church conversion at 499 Preston Street anchors the Little Italy and Dow's Lake corridor, surrounded by the city's densest concentration of restaurants, entertainment venues, and major new condominium development reshaping the entire stretch. The building offers approximately 4,348 square feet on a 50 x 76 foot lot and delivers the kind of presence and character that simply cannot be built from scratch at this price point.The Mainstreet (TM) zoning is one of the most flexible commercial designations in Ottawa, and that is a significant part of the story here. It opens the door to restaurants, bars, entertainment venues, retail, medical and wellness clinics, professional offices, and institutional uses, all permitted within the same envelope. For a buyer with a hospitality or entertainment concept, the location and the zoning are a near-perfect match. Preston Street at Dow's Lake is already one of the city's top dining and entertainment destinations, and this building sits right at its centre. The interior supports ambitious buildouts. Two kitchenettes, 5 bathrooms including one with a shower, soaring ceilings, and wide open floor plates give any incoming operator a serious head start. Long-term redevelopment potential adds another layer of value for investors thinking beyond the immediate use.Specialised commercial financing is available through our lending connections, with strong loan-to-value ratios accessible for qualified purchasers. Available with vacant possession and ready for your vision. Buyer to verify all measurements and permitted uses.
| Monthly Mortgage (P&I) | $10,674 |
| Property Tax (MLS) | $2,617 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $13,291 |
Down payment: $490,000 (20.0%) · Mortgage: $1,960,000
Property tax uses MLS annual tax of $31,401/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
Claridge Icon Condos
Red Bricks Databy Claridge Homes · 805 Carling Avenue
Maint. Fees
0.35
Parking
$55,000
Occupancy
2021
Listing provided by SUTTON GROUP - OTTAWA REALTY
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Data last updated: August 23, 2026 at 04:25 a.m.