498 Gladstone Avenue
Ottawa Centre, ON
- 4 bed
- 2 bath
- 0.05 sqft
- Investment
- 249 days on market
Positioned on a high-visibility corner in the heart of downtown Ottawa, this fully vacant duplex offers a rare & flexible opportunity in one of the city's most connected, walkable & rapidly evolving neighbourhoods. Featuring two 2-bed units, along with four on-site parking spaces, the property provides immediate options for investors, developers, or owner-occupiers, with strong potential for redevelopment. Set on a northwest-facing corner lot the property benefits from Traditional Mainstreet zoning [TM14 H(17)], allowing for a variety of residential or mixed-use possibilities. This zoning supports everything from low - to mid-rise residential & boutique multi-unit projects to commercial space with residential above, making it well suited for thoughtful growth in line with the City's long-term vision. Full municipal services are already in place, offering a smooth path for both current use & future plans. A rare advantage in this urban setting is the four owned off-street parking spaces with access from Lyon Street, adding everyday convenience & long-term value. The corner lot layout also allows for flexible, efficient building design & strong street presence. The location truly sets this property apart. With Walk Scores in the mid to high 90s, everyday amenities such as groceries, cafés, restaurants, parks, boutiques & essential services are just steps away. The property is well served by multiple OC Transpo routes & is moments from Lyon LRT Station, providing quick access to downtown, major employment centres & the wider city. Surrounded by ongoing & future development, this central location continues to benefit from strong demand & long-term growth. Whether you're looking for a duplex with immediate potential, a smart land holding, or a prime infill opportunity, this is a compelling chance to secure a highly visible corner property in Ottawa's urban core.
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Listing Details
- Taxes (2025)
- $5,603
- Listed
- January 7, 2026
Price History
Listing history
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Property
- Age
- 100+
- Lot Size
- 33 x 62 Feet
Parking
- Garage
- None
Utilities
- Heat Source
- Gas
Location & Legal
- Cross Street
- Lyon Street
- Zoning
- TM14 H(17)
- Parcel Number
- 041200333
- Possession
- Flexible
- Occupancy
- Vacant
Commercial
- Business Type
- Apts - 2 To 5 Units
Included
- Inclusions
- All attached light fixtures; All window coverings & associated hardware; All bathroom mirrors; All attached shelving & hooks; 2 Stoves; 2 Refrigerators; Furnace; Hot water tank; All in As-is Where-is condition
- Exclusions
- None
- Rental Items
- None
Property Insights
AI-generated from listing photos. Not professional advice.
Community
Postal area K1R
- Population
- 20,343
- Private dwellings
- 12,836
- Median age
- 36
- Average household size
- 1.7
- Median household income
- $74,000
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 Ottawa Centre · last 12 months
- Median sold price
- $447,000
- Homes sold
- 373
- Median days on market
- 33
- Sale-to-list price
- 97.1%
Based on 373 recorded sales of commercial properties in Ottawa Centre over the last 12 months.
Listed by
ROYAL LEPAGE TEAM REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Annual property tax
- $5,603
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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