One of Ottawa's most distinctive commercial addresses is now available for acquisition. This 1983 church conversion at 499 Preston Street anchors the Little Italy and Dow's Lake corridor, surrounded by the city's densest concentration of restaurants, entertainment venues, and major new condominium development reshaping the entire stretch. The building offers approximately 4,348 square feet on a 50 x 76 foot lot and delivers the kind of presence and character that simply cannot be built from scratch at this price point.The Mainstreet (TM) zoning is one of the most flexible commercial designations in Ottawa, and that is a significant part of the story here. It opens the door to restaurants, bars, entertainment venues, retail, medical and wellness clinics, professional offices, and institutional uses, all permitted within the same envelope. For a buyer with a hospitality or entertainment concept, the location and the zoning are a near-perfect match. Preston Street at Dow's Lake is already one of the city's top dining and entertainment destinations, and this building sits right at its centre. The interior supports ambitious buildouts. Two kitchenettes, 5 bathrooms including one with a shower, soaring ceilings, and wide open floor plates give any incoming operator a serious head start. Long-term redevelopment potential adds another layer of value for investors thinking beyond the immediate use.Specialised commercial financing is available through our lending connections, with strong loan-to-value ratios accessible for qualified purchasers. Available with vacant possession and ready for your vision. Buyer to verify all measurements and permitted uses. (id:25961)
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Rooms
| Level | Type | Dimensions |
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Details
- Amenities Nearby: Highway, Public Transit
- Farm: Other
- Transaction: For sale
- Zoning Description: TM- the Mainstreet Zoning
Building
- Cooling: Fully air conditioned
- Fireplace Present: False
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Exterior: 4348 sqft
- Size Interior: 4348 sqft
- Utility Water: Municipal water
Land
- Amenities: Highway, Public Transit
- Size Frontage: 50 ft
- Size Irregular: Bldg=50 x 76 FT
Listing provided by SUTTON GROUP - OTTAWA REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 499 PRESTON STREET in Ottawa Ontario. It was last modified on June 15th, 2026. Contact the Stuewe Team to schedule a viewing or to discover other Ottawa real estate for sale.