For Sale: 406-408 Bank Street, Ottawa, ON - REW
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$1,600,000
0 bd • ba • 3262 sf • Land/Lot
406-408 Bank Street
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$1,600,000
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406-408 Bank StreetOttawa, ON, K2P 1Y9

Centretown
  • 0 Bed
  • Bath
  • 3262 Sqft
  • Land/Lot

About this home

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:63626)
Listed by: Nicole Li, Salesperson, SOLID ROCK REALTY

Home facts and features

Price details
List Price
$1,600,000
Get Pre-Approved
Gross Taxes for 2026
$31,250
Home facts
Bedrooms
0
Full Bathrooms
Property Type
Land/Lot
Depth
59.28 feet
Frontage
54.6 feet
Community
Agent details
Primary Agent
Nicole Li
Primary Broker
SOLID ROCK REALTY
Listing details
Days on REW
67 Days
Property Views
15
MLS® Number
X12957606
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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25 Years
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3.99%

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Property Insights

Glashan Public School
  • Public
  • 7 - 8
Elgin Street Public School
  • Public
  • JK - 6
Lisgar Collegiate Institute
  • Public
  • 9 - 12
Centennial Public School
  • Public
  • JK - 8
First Avenue Public School
  • Public
  • JK - 6
Cambridge Street Community Public School
  • Public
  • JK - 6
Immaculata School
  • Catholic
  • K - 12
Lady Evelyn Alternative School
  • Public
  • JK - 6
Glebe Collegiate Institute
  • Public
  • 9 - 12
Corpus Christi Catholic Elementary School
  • Catholic
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Nicole Li
Phone:
(613) 869-0653
Office:
855-484-6042
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.