1240 BANK Street, Glebe - Ottawa East and Area, ON K1S 3Y3
4403 - Old Ottawa South, Glebe - Ottawa East and Area · Near Bank Street and Cameron Ave. · View map
About this home
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.
The home
- Type
- Commercial retail
- Square footage
- 3800 sq ft
- Bathrooms
- 2
- Lot size
- 39.7 x 89.9 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
Heating & cooling
- Heating type
- Gas Forced Air Open
- Air conditioning
- Yes
Garage & parking
- Garage
- Lane
- Driveway spaces
- 6
- Total parking
- 6
Taxes & other
- Property taxes
- $23,000/yr
- Tax year
- 2025
- Occupancy
- Owner
- Possession
- Flexible 30-90 days
- Cross street
- Bank Street and Cameron Ave.
- Neighbourhood
- 4403 - Old Ottawa South
More
- MLS® number
- X12254438
No matching details. Ask Will instead
No features listed yet.
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
1240 BANK Street, Glebe - Ottawa East and Area, ON K1S 3Y3
4403 - Old Ottawa South, Glebe - Ottawa East and Area · Near Bank Street and Cameron Ave.
Get directionsWhat’s nearbySchools nearby
Open this tab to load nearby schools.
Your commute
Enter where you go every day to see real drive times:
Listing history for 1240 BANK Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
Sold prices are for members. It’s free, takes a few seconds, and unlocks the sale history on every listing.
Frequently asked questions about 1240 BANK Street
Answers come straight from this home’s MLS® listing.
How much is 1240 BANK Street listed for, and what would it cost each month?
1240 BANK Street is listed for $1,475,000. With 20% down ($295,000), the mortgage payment would be roughly $5,950 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $7,866 a month, all in. That figure is an illustration, not a quote.
Is 1240 BANK Street freehold or a condo, and is there a monthly fee?
1240 BANK Street is a commercial retail in 4403 - Old Ottawa South, Glebe - Ottawa East and Area. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
Does 1240 BANK Street have a garage and parking?
Yes. The listing shows the garage as lane. The driveway adds 6 spaces. In total the listing counts 6 parking spaces.
What style of home is 1240 BANK Street?
1240 BANK Street is a commercial retail. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 1240 BANK Street, and what is the lot size?
The lot is listed as 39.7 x 89.9 ft.
How is 1240 BANK Street heated and cooled?
Heating is gas forced air open. Cooling is yes.
What are the property taxes for 1240 BANK Street?
Property taxes are $23,000 a year (2025), or about $1,917 a month.
Where is 1240 BANK Street?
1240 BANK Street is in the 4403 - Old Ottawa South community of Glebe - Ottawa East and Area. The nearest main intersection is Bank Street and Cameron Ave.. The postal code is K1S 3Y3.
Is 1240 BANK Street still for sale?
Yes. It is an active listing (MLS® X12254438). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 1240 BANK Street asking?
Similar properties for sale nearby right now include 163 First Avenue at $1,799,000, 54 Centennial Boulevard at $1,850,000 and 103 - 111 Echo Drive at $1,295,000 (2 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 1240 BANK Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 1240 BANK Street?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near 4403 - Old Ottawa South, picked by style, size and price.
Investment$1,799,000163 First Avenue, Glebe - Ottawa East and Area4402 - GlebeCourtesy of: CAPITAL COMMERCIAL INVESTMENT CORP.View home →
Investment$1,850,00054 Centennial Boulevard, Glebe - Ottawa East and Area4405 - Ottawa EastCourtesy of: SLEEPWELL REALTY GROUP LTDView home →
Condo apartment$1,295,000103 - 111 Echo Drive, Glebe - Ottawa East and Area2 bed · 2 bath · 4408 - Ottawa EastCourtesy of: ENGEL & VOLKERS OTTAWAView home →Courtesy of: RE/MAX HALLMARK REALTY GROUP
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.