$ 1,600,000
-
$1,600,000
Price -
0
Bed -
0
Bath -
3,262
SqFt
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About the Listing 508700 -
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!
Listing Highlights
Status
Active
Days on Site
12
Property Type
Vacant Land
MLS ®
X12957606
Year Built
Total Square Footage
3,262
Lot/Acreage
N/A
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Sanitary
- Parking Features: No Garage
Financial Details
- Tax Amount: $31,250
- Taxes w/Assessments: N/A
- Tax/Property ID: 041190323
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
406-408 Bank St Ottawa Centre, ON K2P 1Y9
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