499 Preston St, Dows Lake - Civic Hospital and Area
Dows Lake - Civic Hospital and Area, ON · · MLS® X13444610Updated
$2,450,000
Type Retail
What you should know
499 Preston St is a retail in Dows Lake - Civic Hospital and Area, listed for $2,450,000.
1One of Ottawa's most distinctive commercial addresses is now available for acquisition.
2The interior supports ambitious buildouts.
3Two kitchenettes, 5 bathrooms including one with a shower, soaring ceilings, and wide open floor plates give any incoming operator a serious head start.
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Zara is an AI virtual agent. Advisors are licensed REALTORS® at Coldwell Banker Summit Realty, Brokerage.
Commercial Property in Dows Lake - Civic Hospital and Area
About 499 Preston Street
One of Ottawa's most distinctive commercial addresses is now available for acquisition. This 1983 church conversion at 499 Preston Street anchors the Little Italy and Dow's Lake corridor, surrounded by the city's densest concentration of restaurants, entertainment venues, and major new condominium development reshaping the entire stretch. The building offers approximately 4,348 square feet on a 50 x 76 foot lot and delivers the kind of presence and character that simply cannot be built from scratch at this price point.The Mainstreet (TM) zoning is one of the most flexible commercial designations in Ottawa, and that is a significant part of the story here. It opens the door to restaurants, bars, entertainment venues, retail, medical and wellness clinics, professional offices, and institutional uses, all permitted within the same envelope. For a buyer with a hospitality or entertainment concept, the location and the zoning are a near-perfect match. Preston Street at Dow's Lake is already one of the city's top dining and entertainment destinations, and this building sits right at its centre. The interior supports ambitious buildouts. Two kitchenettes, 5 bathrooms including one with a shower, soaring ceilings, and wide open floor plates give any incoming operator a serious head start. Long-term redevelopment potential adds another layer of value for investors thinking beyond the immediate use.Specialised commercial financing is available through our lending connections, with strong loan-to-value ratios accessible for qualified purchasers. Available with vacant possession and ready for your vision.
Dows Lake - Civic Hospital and Area retail priced at $2,450,000 — book a tour to see if it fits your search.
Inside 499 Preston St
Every detail from the listing, in one place.
Type
Retail
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Commercial Retail
499 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® X13444610$2,450,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 499 Preston St Compares to the Dows Lake - Civic Hospital and Area 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.
Similar homes for sale nearby in Dows Lake - Civic Hospital and Area
Other homes for sale in Dows Lake - Civic Hospital and Area around $2.5M.
Market pulse · Dows Lake - Civic Hospital and Area
Median sold price$660,000Last 90 days
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio99.0%On average, homes sold below asking.
Active listings66Homes for sale here right now.
Median vs prior 90 days+21.1%Compared with Apr 26 – Jul 25, 2026: prices up.
Based on 57 sales from Jul 25 – Oct 23, 2026 (37 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
499 Preston St is listed at $2,450,000 (MLS® X13444610). Summitly updates the price as soon as the MLS® record changes.
Has the price of 499 Preston St changed?
No — 499 Preston St is still listed at its original asking price of $2,450,000.
How many bedrooms and bathrooms does 499 Preston St have?
The listing for 499 Preston St doesn't publish its bedroom and bathroom count. It is a commercial property in Dows Lake - Civic Hospital and Area.
Is 499 Preston St close to transit?
The nearest rapid-transit station is Dow's Lake Station (O-Train Line 2), about 160 m (about a 2-minute walk) in a straight line. Corso Italia Station is about 830 m (about a 10-minute walk), and Bayview Station is about 1.7 km (about a 21-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 499 Preston St compare with other homes in Dows Lake - Civic Hospital and Area?
Its asking price of $2,450,000 is about 271% above the median sold price in Dows Lake - Civic Hospital and Area over the last 90 days, $660,000, across 57 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 499 Preston St been sold before?
Summitly has no earlier MLS® sale or lease of 499 Preston St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 499 Preston St?
499 Preston St is in Dows Lake - Civic Hospital and Area, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 499 Preston St been on the market?
130 days — 499 Preston St was listed on June 15, 2026.
What is the land transfer tax on 499 Preston St?
About $47,725 in Ontario land transfer tax at the asking price of $2,450,000. 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 499 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 499 Preston St?
The listing for 499 Preston St doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Dows Lake - Civic Hospital and Area.
When was 499 Preston St built?
The listing for 499 Preston St doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
