185 Preston St is an investment in West Centre Town, listed for $789,900.
1Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy.
2Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions.
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Commercial Property in West Centre Town
About 185 Preston Street
Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy. Existing triplex with approved plans and supporting consultant reports for conversion to a mixed-use building consisting of a ground-floor commercial unit and two residential units above. Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions. Purchasers benefit from significant time savings by acquiring a project that has already progressed through the planning and design process. The proposed design retains the existing structure while introducing a modern mixed-use layout suited for retail, professional office, service commercial or similar permitted uses. Rear parking available. Located within one of Ottawa's most established urban corridors, minutes from Dow's Lake, the future Ottawa Senators arena district, Chinatown, the Rideau Canal, public transit and major employment nodes. An excellent opportunity for builders, contractors, investors and owner-operators seeking a manageable urban infill project with substantial due diligence already completed. (Renderings depict a conceptual representation of the proposed redevelopment)
West Centre Town investment priced at $789,900 — book a tour to see if it fits your search.
Inside 185 Preston St
Every detail from the listing, in one place.
Type
Investment
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Investment
185 Preston St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13482170$789,900
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 185 Preston St Compares to the West Centre Town Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Zara’s estimate
$•,•••,•••
Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.
Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Keep looking near 185 Preston St
Market pulse · West Centre Town
Median sold price$580,000Last 90 days
Average days on market36Homes sold in about 36 days on average.
Sale-to-list ratio96.8%On average, homes sold below asking.
Active listings104Homes for sale here right now.
Median vs prior 90 days−18.3%Compared with May 11 – Aug 9, 2026: prices down.
Based on 53 sales from Aug 9 – Nov 7, 2026 (52 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
185 Preston St is listed at $789,900 (MLS® X13482170). Summitly updates the price as soon as the MLS® record changes.
Has the price of 185 Preston St changed?
No — 185 Preston St is still listed at its original asking price of $789,900.
How many bedrooms and bathrooms does 185 Preston St have?
The listing for 185 Preston St doesn't publish its bedroom and bathroom count. It is a commercial property in West Centre Town.
Is 185 Preston St close to transit?
The nearest rapid-transit station is Corso Italia Station (O-Train Line 2), about 300 m (about a 4-minute walk) in a straight line. Bayview Station is about 790 m (about a 10-minute walk), and Pimisi Station is about 810 m (about a 10-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 185 Preston St compare with other homes in West Centre Town?
Its asking price of $789,900 is about 36% above the median sold price in West Centre Town over the last 90 days, $580,000, across 53 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 185 Preston St been sold before?
Summitly has no earlier MLS® sale or lease of 185 Preston St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 185 Preston St?
185 Preston St is in West Centre Town, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 185 Preston St been on the market?
138 days — 185 Preston St was listed on June 22, 2026.
What is the land transfer tax on 185 Preston St?
About $12,273 in Ontario land transfer tax at the asking price of $789,900. First-time buyers can get up to $4,000 back. Legal fees and other closing costs are extra.
How do I book a viewing of 185 Preston St or make an offer?
Select "Book a viewing" on this page and pick a time. A licensed Coldwell Banker Summit Realty, Brokerage agent confirms it with the listing brokerage. When you're ready, your agent prepares the offer with you and submits it to the listing brokerage.
What is the property tax for 185 Preston St?
The listing for 185 Preston St doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for West Centre Town.
When was 185 Preston St built?
The listing for 185 Preston St doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
