Mirna Botros

613-600-2626

266 Preston Street - $1,200,000

266 Preston Street

$1,200,000

4205 - West Centre Town

Ottawa, OntarioK1R7R5

0 beds

4 baths

3 parking

MLS#: X13639936Listed: about 2 hours agoUpdated:about 2 hours ago

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:58075)

Details

Details for 266 Preston Street, Ottawa, Ontario

Property Type: Business
Building Type: -
Storeys: -
Neighborhood: 4205 - West Centre Town
Land Size: 26.28 x 99.88 FT
Year Built: -
Annual Property Taxes: $11,809
Parking Type: -

Inside

Appliances: -
Rooms: -
Bedrooms: -
Bathrooms: 4
Fireplace: -
Fireplace Total: -
Basement: -

Building

Architecture Style: -
Direction: Cross Streets: Preston and Gladstone. ** Directions: Carling to Preston at Gladstone.
Type of Dwelling: -
Roof: -
Exterior: -
Foundation: -
Flooring: -