406-408 Bank Street Ottawa, Ontario K2P 1Y9
$1,600,000
SHOVEL-READY Apartment Building, an exceptional DEVELOPMENT OPPORTUNITY at the CORNER of Bank St& Florence St. It comes with an APPROVED BUILDING PERMIT for a 6-storey mixed-use building, offering immense potential for an astute developer or investor. This property boasts unparalleled visibility and access in the HEART of OTTAWA, PUBLIC TRANSIT, Retail, Schools, Diverse dining options, Cultural attractions, and Community Amenities, ensuring strong TENANT DEMAND. The approved permits allow for a thoughtfully designed 6-storey building featuring ground-floor commercial space and 28 residential units above. The innovative design strategy FORCUSES on MAXIMIZING rental potential with 7 well-appointed 1-bedroom units and 21 efficiently designed bachelor units (resembling a 1-bedroom-like layout). This strategic unit mix targets a highly competitive segment of the rental market, where smaller, doorstep transit, and smartly designed units are in high demand and typically easier to rent. This approach sets your development apart from the standard 1-bed and 2-bed offerings, a distinct advantage. These crucial studies and designs represent a significant DE-RISKING for the buyer, providing a clear path forward and SAVING YEARS of valuable time and effort. While the existing approved designs offer a streamlined development path, a buyer who prefers to revise elements can still leverage the extensive pre-development work. READY TO BUILD: Significant Savings & Speed to Market! (id:39840)
Property Details
| MLS® Number | X12957606 |
| Property Type | Vacant Land |
| Community Name | 4103 - Ottawa Centre |
| Amenities Near By | Public Transit |
Building
| Size Interior | 3,262 Sqft |
Land
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 59 Ft ,3 In |
| Size Frontage | 54 Ft ,6 In |
| Size Irregular | 54.56 X 59.28 Ft |
| Size Total Text | 54.56 X 59.28 Ft |
| Zoning Description | Tm[2472] H21 |
https://www.realtor.ca/real-estate/29558461/406-408-bank-street-ottawa-4103-ottawa-centre
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April 05 2026 03:03:42
Ottawa Real Estate Board
Solid Rock Realty