1240 BANK Street
4403 - Old Ottawa South, Glebe - Ottawa East and Area, K1S 3Y3
$1,475,000
Reduced $325,000 from $1,800,000
- 2 bathrooms
Listed 476 days ago · MLS® X12254438
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.
Details
- Type
- Commercial Retail
- Lot
- 39.67 × 89.89 ft
- Garage
- Lane
- Property tax
- $23,000 (2025)
- Neighbourhood
- 4403 - Old Ottawa South
- Municipality
- Glebe - Ottawa East and Area
Interior
- Bathrooms
- 2 × bathroom
Heating, cooling and services
- Heating
- Gas Forced Air Open
- Air conditioning
- Yes
- Utilities
- Yes
Building and exterior
- Building area
- 3,800 Square Feet
More
- Possession
- Flexible 30-90 days
- Cross street
- Bank Street and Cameron Ave.
- Business type
- Retail Store Related
Location
Location is approximate. See nearby homes on the map
Recent sales nearby
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The neighbourhood
Getting around Very walkable
- 🚇 Carleton LRT1.3 km
- 🚇 Mooney's Bay LRT1.6 km
Within a 10-minute walk: 4 grocery stores, 19 cafés and restaurants, 10 parks, 6 pharmacies. Nearest grocery: Cedars & Co. Food Market (50 m). Nearest park: Bellwood Parkette (150 m).
Schools nearby
Elementary
- Hopewell Avenue Public School
EQAO: Gr 6 reading 97%, math 82%6 min walk - Westboro Academy Private14 min walk
- The Element Private17 min walk
- Mutchmor Public School
EQAO: Gr 6 reading 100%, math 77%1.3 km
Secondary
- Glebe Collegiate Institute
EQAO: Gr 9 math 74%, literacy test 93%1.8 km
EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.
Closest schools, not school zones. Check which school serves this address with the school board before relying on it.
Who lives here postal area K1S
- Owners / renters
- 51% / 49%
- Median household income
- $106,000
- Average age
- 41
- Children under 15
- 12%
- Homes
- 30% detached, 28% high-rise
- Commute by transit
- 13%
- Population
- 31,257
Languages spoken most at home besides English: Mandarin 1.6%, Arabic 0.6%, Spanish 0.6%, Iranian Persian 0.4%.
Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario).
Living here
Commute
To downtown Ottawa: 4 km. Transit times · Driving times
Noise Nothing major nearby
No highway within 500 m, rail line within 300 m, or airport flight path nearby.
Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.
Internet High-speed
50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).
From the federal broadband map. Check exact speeds and providers for the address.
Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.
Listed by RE/MAX HALLMARK REALTY GROUP.
Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.