266 Preston Street
West Centre Town, ON
- 4 bath
- 1,650 sqft
- Investment
Prime mixed-use opportunity in the heart of Little Italy! Welcome to 266 Preston Street, ideally located along one of Ottawa's most vibrant and established commercial corridors. Excellent street presence and visibility, surrounded by restaurants, cafés, shops, residential developments and neighborhood amenities. The main-floor commercial space is currently configured as a turnkey restaurant, providing an excellent opportunity for an operator to establish or expand a food-service business with much of the existing infrastructure already in place. The versatile commercial layout could also be reimagined for other uses, potentially including a medical or wellness clinic, professional offices, convenience store, specialty retail, personal services, showroom or other commercial concepts, subject to zoning and approvals. Zoned Traditional Mainstreet (TM), the property offers flexibility to retain the existing restaurant operation or renovate and reposition the space for a different business model. The upper-level residential unit provides an additional income stream, with estimated rental potential of approximately $2,000/month, or could provide convenient accommodation for an owner-operator. Located close to the LRT, Dow's Lake and downtown Ottawa, with continued growth and intensification along Preston Street, this property offers strong long-term potential in one of Ottawa's most recognizable neighborhoods. Vendor Takeback (VTB) available - up to 25% of purchase price. Proposed as a second mortgage behind institutional financing, with a 2-3 year term, interest rate of approximately 6%-8% (negotiable), interest-only payments preferred and balloon payment at maturity. Flexible terms may be considered based on buyer qualifications. Whether you're seeking a turnkey restaurant, commercial space for a new business, conversion opportunity or mixed-use investment, 266 Preston Street offers location, visibility, flexibility and financing options.
Listing Details
- Taxes (2026)
- $11,809
- Listed
- August 5, 2026
Price History
Listing history
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Property
- Age
- 51-99
- Lot Size
- 26.28 x 99.88 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Preston and Gladstone
- Zoning
- TM[78] H(15)
- Parcel Number
- 041060078
- Possession
- Flexible
- Occupancy
- Owner
Included
- Inclusions
- restaurant equipment and fixtures
- Rental Items
- Hot Water Tank
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
- $667,000
- Homes sold
- 175
- Median days on market
- 20
- Sale-to-list price
- 98.0%
Based on 175 recorded sales of commercial properties in West Centre Town over the last 12 months.
Listed by
ROYAL LEPAGE INTEGRITY REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 1,650 sq ft
- Price per sq ft
- $727.27
- Annual property tax
- $11,809
- Tax per sq ft
- $7.16
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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