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Zara is an AI virtual agent. Advisors are licensed REALTORS® at Coldwell Banker Summit Realty, Brokerage.
Commercial Property in Ottawa
About 245 Bay Street
Exceptional Investment Opportunity and excellent location in downtown Ottawa! This prime corner property is located at the corner of Bay Street and Gloucester Street in downtown Ottawa. Benefting from dual frontage and two separate addresses on both streets . It is surrounded by many high apartment buildings. In a densely populated neighborhood, it offers access to top-rated public schools, parks, and recreational facilities. The location is highly convenient, with bus stops and the OLRT-Lyon light rail station within walking distance.The property spans 3,300 square feet, upstairs with 5 offices/bedrooms (suitable for use as offices, residentials, or other uses) and 2 bathrooms, along with 1 kitchen. The first foor is currently operating as a convenience store, but can easily be adapted for other uses. The current building's basement is used as storage, but it can be also used as club. A total of 12 parking spaces are available, with 7 at the rear currently rented out for additional rental incomes with 2200 square feet area land . With ample parking, excellent transportation access, and versatile usage options. In addition, in terms of New Zoning (By-law 2026-50), the place can be built a hub(high building with 90 meters). Another building can be constructed in the additional land(i.e. the parking spots). It can be used (1)personal service business: barber shop, beauty parlour, or dry cleaner's distribution station. (2) place of assembly: club. (3)retail store: drugstore, floristshop, newsstand. (4) restaurant. This is a rare investment opportunity! Owner can offer second mortgage choice to buyer.
Ottawa retail priced at $1,777,866 — book a tour to see if it fits your search.
Inside 245 Bay St
Every detail from the listing, in one place.
Type
Retail
Features & systems
Lot & land
Lot size (sqft)
3300
Listing & possession
Property class
Commercial Retail
245 Bay 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® X14020456$1,777,866
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 245 Bay St Compares to the Ottawa 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.
Average days on market44Homes sold in about 44 days on average.
Sale-to-list ratio97.1%On average, homes sold below asking.
Active listings253Homes for sale here right now.
Median vs prior 90 days+4.8%Compared with Apr 16 – Jul 15, 2026: prices up.
Based on 151 sales from Jul 15 – Oct 13, 2026 (103 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
245 Bay St is listed at $1,777,866 (MLS® X14020456). Summitly updates the price as soon as the MLS® record changes.
Has the price of 245 Bay St changed?
No — 245 Bay St is still listed at its original asking price of $1,777,866.
How many bedrooms and bathrooms does 245 Bay St have?
The listing for 245 Bay St doesn't publish its bedroom and bathroom count. It is a commercial property in Ottawa.
Is 245 Bay St close to transit?
The nearest rapid-transit station is Lyon Station (O-Train Line 1), about 390 m (about a 5-minute walk) in a straight line. Parliament Station is about 750 m (about a 9-minute walk), and Pimisi Station is about 770 m (about a 10-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 245 Bay St compare with other homes in Ottawa?
Its asking price of $1,777,866 is about 286% above the median sold price in Ottawa over the last 90 days, $460,000, across 151 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 245 Bay St been sold before?
Summitly has no earlier MLS® sale or lease of 245 Bay St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 245 Bay St?
245 Bay St is in Ottawa, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 245 Bay St been on the market?
245 Bay St was listed today (October 13, 2026).
What is the land transfer tax on 245 Bay St?
About $32,032 in Ontario land transfer tax at the asking price of $1,777,866. 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 245 Bay 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 245 Bay St?
The listing for 245 Bay St doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Ottawa.
When was 245 Bay St built?
The listing for 245 Bay St doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
