499 Preston St, Dows Lake - Civic Hospital and Area
Dows Lake - Civic Hospital and Area, ON · · MLS® X13444616Updated
$2,650,000
Type Business
What you should know
499 Preston St is a business in Dows Lake - Civic Hospital and Area, listed for $2,650,000.
1The property spans approximately 4,348 square feet on a 50 x 76-foot lot with Mainstreet (TM) zoning and offers the kind of visibility that most commercial operators spend years trying to earn.
2The books are open for qualified buyers to review, and current ownership is committed to a proper transition.
3The space is purpose-built for collaboration and hospitality.
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Commercial Property in Dows Lake - Civic Hospital and Area
About 499 Preston Street
A rare going-concern opportunity in one of Ottawa's most recognizable buildings. This landmark 1983 church conversion at 499 Preston Street sits at the heart of Little Italy and the Dow's Lake entertainment corridor, one of the city's most trafficked and culturally vibrant stretches. The property spans approximately 4,348 square feet on a 50 x 76-foot lot with Mainstreet (TM) zoning and offers the kind of visibility that most commercial operators spend years trying to earn. What makes this exceptional is what comes with the building. The business is established, operational, and generating revenue with an active client base and multi-year contracts already in place. The books are open for qualified buyers to review, and current ownership is committed to a proper transition. Run it as is, scale it, or bring your own vision entirely. For the right entrepreneur, this is not a startup. It is a running operation with infrastructure, clientele, and cash flow from day one. The space is purpose-built for collaboration and hospitality. Features include two kitchenettes, 5 bathrooms including one with a shower, soaring ceilings, and expansive open-concept areas suited to events, wellness, professional services, or creative industries. Mainstreet zoning supports retail, restaurant, medical, office, and institutional uses. Steps from Dow's Lake, the Civic Hospital, and the luxury condominium developments reshaping this corridor, the location is only gaining momentum. Specialized commercial financing is available through our lending connections, with strong loan-to-value ratios accessible for qualified buyers.
Dows Lake - Civic Hospital and Area business priced at $2,650,000 — book a tour to see if it fits your search.
Inside 499 Preston St
Every detail from the listing, in one place.
Type
Business
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Sale Of Business
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® X13444616$2,650,000
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 $2.6M.
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 $2,650,000 (MLS® X13444616). 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 $2,650,000.
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 $2,650,000 is about 302% 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 $52,725 in Ontario land transfer tax at the asking price of $2,650,000. 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.
