1240 Bank St - Storefront Retail/Office FOR SALE


Ottawa, ON K1S 3Y3- Downtown
$1,800,000 CAD
613-794-8555
1240 Bank St, Ottawa, ON for Sale
$1,800,000 CAD
Storefront Retail/Office - FOR SALE
1/2
null | Request Cap Rate

1240 Bank St
Ottawa, ON K1S 3Y3
Downtown


HIGHLIGHTS

  • High Traffic Location
  • Lots of natural light
  • Easy access to public transit

OVERVIEW

Classic red brick storefront in a busy, vibrant section of Bank Street in Old Ottawa South. Close to 4000 sq' over 2 above grade floors, plus a full height basement also used for retail display. Approximately 9" ceiling height on main floor and 2nd floors, and 8" in basement. The entire space is owner occupied.This is a well established downtown community just south of The Glebe and Lansdowne Park and just north of Billings Bridge, very close to the Transitway. While the streetscape is well established, it is also poised for major redevelopment, with several adjacent large land parcels showing exceptional potential. This property is ideal with it's current use, but could be redeveloped on its' own. The new draft Zoning Bylaw indicates 9 storeys will be permitted, depending on lot depth. There is a laneway off the side street (Chesley) for access to the back of the property for loading and parking. The laneway is fully fenced and enclosed in the back of the property and is currently used exclusively for an extra 10' in depth. Clean Environmental Phase 1 and 2 recently done (Pinchin 2023). Large open interior spaces. Has 2 electric services, one of which is 600 volts. Commercially rewired in the past. A number of building modifications and improvements were done when previously owned by Cohen's. 2 Forced Air Furnaces both with Central AC.

FOR SALE DETAILS

PRICE

$1,800,000 CAD

PRICE/SF

$462 CAD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

TM2 H(15)

APN/PARCEL ID

061405270251300

ASK ABOUT THIS PROPERTY

Ian HassellRemax Hallmark Realty GroupMore Info
613-794-8555

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Ian HassellRemax Hallmark Realty GroupMore Info
613-794-8555

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.