499 Preston Street, Dows Lake - Civic Hospital and Area, ON K1S 4N7
4502 - West Centre Town, Dows Lake - Civic Hospital and Area · Near Carling Ave, Preston St · View map
About this home
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.
The home
- Type
- Commercial retail
- Square footage
- 4348 sq ft
- Lot size
- 50 x 76 ft
- Approximate age
- 16-30 years
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Security
- Yes
Heating & cooling
- Heating type
- Gas Forced Air Closed
- Air conditioning
- Yes
Garage & parking
- Total parking
- None
Taxes & other
- Property taxes
- $31,401/yr
- Tax year
- 2026
- Occupancy
- Owner
- Possession
- 90+ days
- Cross street
- Carling Ave, Preston St
- Neighbourhood
- 4502 - West Centre Town
More
- MLS® number
- X13444610
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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.
499 Preston Street, Dows Lake - Civic Hospital and Area, ON K1S 4N7
4502 - West Centre Town, Dows Lake - Civic Hospital and Area · Near Carling Ave, Preston St
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Listing history for 499 Preston Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 499 Preston Street
Answers come straight from this home’s MLS® listing.
How much is 499 Preston Street listed for, and what would it cost each month?
499 Preston Street is listed for $2,450,000. With 20% down ($490,000), the mortgage payment would be roughly $9,883 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $12,499 a month, all in. That figure is an illustration, not a quote.
Is 499 Preston Street freehold or a condo, and is there a monthly fee?
499 Preston Street is a commercial retail in 4502 - West Centre Town, Dows Lake - Civic Hospital 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 499 Preston Street have a garage and parking?
The listing does not show a garage. The listing does not include a parking space.
What style of home is 499 Preston Street?
499 Preston Street is a commercial retail. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 499 Preston Street, and what is the lot size?
The lot is listed as 50 x 76 ft.
How is 499 Preston Street heated and cooled?
Heating is gas forced air closed. Cooling is yes.
What are the property taxes for 499 Preston Street?
Property taxes are $31,401 a year (2026), or about $2,617 a month.
Where is 499 Preston Street?
499 Preston Street is in the 4502 - West Centre Town community of Dows Lake - Civic Hospital and Area. The nearest main intersection is Carling Ave, Preston St. The postal code is K1S 4N7.
Is 499 Preston Street still for sale?
Yes. It is an active listing (MLS® X13444610). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 499 Preston Street asking?
Similar properties for sale nearby right now include 499 Preston Street at $2,650,000, 2 - 59 W Champagne Avenue S at $2,899,900 and 59 Champagne Avenue S at $2,899,900. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 499 Preston 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 499 Preston 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 4502 - West Centre Town, picked by style, size and price.
Sale of business$2,650,000499 Preston Street, Dows Lake - Civic Hospital and Area4502 - West Centre TownCourtesy of: SUTTON GROUP - OTTAWA REALTYView home →
Commercial retail$2,899,9002 - 59 W Champagne Avenue S, Dows Lake - Civic Hospital and Area4502 - West Centre TownCourtesy of: ROYAL LEPAGE TEAM REALTYView home →
Sale of business$2,899,90059 Champagne Avenue S, Dows Lake - Civic Hospital and Area4502 - West Centre TownCourtesy of: ROYAL LEPAGE TEAM REALTYView home →Courtesy of: SUTTON GROUP - OTTAWA REALTY
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.