1240 BANK Street
Glebe - Ottawa East and Area, ON
- 2 bath
- 3,800 sqft
- Commercial Retail
- 427 days on market
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.
Virtual Tour
Virtual Tour Available
Listing Details
- Taxes (2025)
- $23,000
- Originally Listed
- $1,800,000
- Listed
- July 1, 2025
Price History
Property
- Lot Size
- 39.67 x 89.89 Feet
Parking
- Garage
- Lane
Location & Legal
- Cross Street
- Bank Street and Cameron Ave.
- Zoning
- TM2
- Parcel Number
- 041450191
- Possession
- Flexible
- Occupancy
- Owner
Commercial
- Business Type
- Retail Store Related
Community
Postal area K1S
- Population
- 31,257
- Private dwellings
- 15,662
- Median age
- 39.2
- Average household size
- 2.1
- Median household income
- $106,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Glebe - Ottawa East and Area · last 12 months
- Median sold price
- $1,033,500
- Homes sold
- 252
- Median days on market
- 15
- Sale-to-list price
- 99.2%
Based on 252 recorded sales of commercial properties in Glebe - Ottawa East and Area over the last 12 months.
Listed by
RE/MAX HALLMARK REALTY GROUP
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 3,800 sq ft
- Price per sq ft
- $388.16
- Annual property tax
- $23,000
- Tax per sq ft
- $6.05
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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