185 Preston Street

West Centre Town, ON

2,700 sqft
Investment
76 days on market

$789,900

Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy. Existing triplex with approved plans and supporting consultant reports for conversion to a mixed-use building consisting of a ground-floor commercial unit and two residential units above. Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions. Purchasers benefit from significant time savings by acquiring a project that has already progressed through the planning and design process. The proposed design retains the existing structure while introducing a modern mixed-use layout suited for retail, professional office, service commercial or similar permitted uses. Rear parking available. Located within one of Ottawa's most established urban corridors, minutes from Dow's Lake, the future Ottawa Senators arena district, Chinatown, the Rideau Canal, public transit and major employment nodes. An excellent opportunity for builders, contractors, investors and owner-operators seeking a manageable urban infill project with substantial due diligence already completed. (Renderings depict a conceptual representation of the proposed redevelopment)

Listing Details

Taxes (2025): $4,614
Listed: June 22, 2026

Price History

Listing history

Property

Lot Size: 24 x 100 Feet

Parking

Garage: Lane

Location & Legal

Cross Street: Preston Street and Willow Street
Zoning: TM[78] and MS1[78]H(19.1)
Parcel Number: 041080178
Possession: Immediate
Occupancy: Vacant

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 West Centre Town · last 12 months

Median sold price: $673,000
Homes sold: 174
Median days on market: 20
Sale-to-list price: 98.1%

Based on 174 recorded sales of commercial properties in West Centre Town over the last 12 months.

Listed by

RIGHT AT HOME REALTY

Walk Score

Walk

Transit

Bike

Scores by Walk Score®

Location

Street View

Commercial figures

Building area: 2,700 sq ft
Price per sq ft: $292.56
Annual property tax: $4,614
Tax per sq ft: $1.71

Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.

Reita | Assistant

Online

Reita is an automated assistant, not a licensed real estate agent. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?