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$1,800,000
Available - For Sale
Listing ID: X12254438
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.
Price $1,800,000
Taxes: $23,000
Tax Type: Annual
Occupancy by: Owner
Address: 1240 BANK Stre , Glebe - Ottawa East and Area, K1S 3Y3, Ottawa
Postal Code: K1S 3Y3
Province/State: Ottawa
Legal Description: PCL 1-1, SEC 4M-34 ; LT 1, PL 4M-34 ; OT
Lot Size: 12.09 x 89.89 (Feet)
Directions/Cross Streets: Bank Street and Cameron Ave.
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Washroom 11:  0
Washroom 12:  0
Washroom 13:  0
Washroom 14:  0
Washroom 15:  0
Washroom 16:  0
Washroom 17:  0
Washroom 18:  0
Washroom 19:  0
Washroom 20:  0
Washroom 21:  0
Washroom 22:  0
Washroom 23:  0
Washroom 24:  0
Washroom 25:  0
Washroom 26:  0
Washroom 27:  0
Washroom 28:  0
Washroom 29:  0
Washroom 30:  0
Washroom 31:  0
Washroom 32:  0
Washroom 33:  0
Washroom 34:  0
Washroom 35:  0
Washroom 36:  0
Washroom 37:  0
Washroom 38:  0
Washroom 39:  0
Washroom 40:  0
Category: Retail
Use: Retail Store Related
Building Percentage: T
Total Area: 3,800
Total Area Code:  Square Feet
Retail Area Code: Sq Ft
Maintenance: 0
Sprinklers: No
Clear Height Feet: 9
Heat Type: Gas Forced Air Open
Central Air Conditioning: Yes
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RE/MAX HALLMARK REALTY GROUP

1240 BANK Stre , Glebe - Ottawa East and Area, K1S 3Y3, Ottawa


 
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Type: Com - Commercial Retail
Area: Ottawa
Municipality: Glebe - Ottawa East and Area
Neighbourhood: 4403 - Old Ottawa South
Style:
Lot Size: 12.09 x 89.89(Feet)
Approximate Age:
Tax: $23,000
Maintenance Fee: $0
Beds: 0
Baths: 2
Garage: 0
Fireplace: N
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