This property features a classic red brick storefront located in the bustling and vibrant section of Bank Street, situated in the heart of Old Ottawa South. The property spans nearly 4,000 square feet, distributed over two above-grade floors, with an additional full-height basement that is also utilized for retail display purposes. The main and second floors boast approximately 9-foot ceilings, while the basement features an 8-foot ceiling height. Situated in a well-established downtown community, the property is conveniently located just south of The Glebe and Lansdowne Park, and north of Billings Bridge, with close proximity to the Transitway. The well-established streetscape is poised for significant redevelopment, with several adjacent large land parcels demonstrating exceptional potential for future development. According to the new draft Zoning Bylaw, the property is eligible for development up to nine storeys, contingent upon the lot depth. A laneway off Chesley Street provides access to the rear of the property for loading and parking. This laneway is fully fenced and enclosed in the section directly behind this property, offering an additional 10 feet in depth which is currently used exclusively. Recent environmental assessments (Phase 1 and 2) conducted by Pinchin in 2023 confirm the property is clean. The interior features large open spaces and is equipped with two electrical services, including a 600-volt service. The property has been commercially rewired in the past, and various building modifications and improvements were undertaken. The property is equipped with two forced air furnaces, both featuring central air conditioning.
Address
1240 Bank Street
List Price
$1,475,000
MLS® Status
Price Change
Property Type
Commercial
Type of Dwelling
Commercial Retail
Transaction Type
Sale
Area
Glebe - Ottawa East and Area
Sub-Area
4403 - Old Ottawa South
Region
Ottawa
Bathrooms
2
Lot Depth
89.89
Lot Type
Building
Lot Size Units
Feet
Lot Width
39.67
Parcel Number
041450191
Total Building Area
3800
Occupant Type
Owner
Cross Street
Bank Street and Cameron Ave.
Frontage Length
12.09
MLS® Number
X12254438
Listing Brokerage
RE/MAX HALLMARK REALTY GROUP
Postal Code
K1S 3Y3
Posession Details
Flexible 30-90 days
Parking Spaces
6
Tax Amount
$23,000.00
Tax Year
2025
Standard Status
Active
Board Or Association
Ottawa Real Estate Board
Heat Type
Gas Forced Air Open
Cooling Features
Yes
Garage Type
Lane
Tax Legal Description
PCL 1-1, SEC 4M-34 ; LT 1, PL 4M-34 ; OTTAWA/NEPEAN
Security Features
No
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