INCREDIBLE OPPORTUNITY TO OWN A STUNNING, TURN-KEY RESTAURANT IN THE HEART OF LITTLE ITALY! Offered as a sale of business, this fully equipped and beautifully designed restaurant spans approximately 1,300 sq. ft. and includes everything you need to walk in and operate immediately. The space features a functional commercial kitchen, seating for approximately 35 guests, a large, trendy bar, two washrooms, and additional prep and storage areas in the basement with a separate back entrance and 3-car parking. Located on vibrant Preston Street, surrounded by established restaurants, retail, government offices, and residential towers, this location offers excellent exposure and consistent foot traffic year-round. The sale includes all restaurant assets, furniture, fixtures, and equipment (FF&E), valued at $100,000, but offered to purchase for $65,000. Buyers will have the opportunity to negotiate a new long-term lease with the landlord or Assignment of the Lease. Triple-net rent is $4,200/month plus HST for Base Rent, with Additional Rent of approximately $1825.73/month plus HST w/ 2.5 yrs remaining on lease until Spring 2028; Rent subject to annual Increases. Utilities are separate and paid by Tenant. Proof of restaurant experience and financial capability required. See attached feature sheet for full list of included assets. *PLEASE NOTE THIS LISTING IS CANCELLED AND NO LONGER FOR SALE*
Address
424 Preston Street
List Price
$65,000
MLS® Status
Price Change
Expiration Date
2026-05-25
Property Type
Commercial
Type of Dwelling
Sale Of Business
Transaction Type
Sale
Area
Dows Lake - Civic Hospital and Area
Sub-Area
4502 - West Centre Town
Region
Ottawa
Bathrooms
2
Lot Size Source
MPAC
Lot Depth
100
Lot Type
Building
Lot Size Units
Feet
Lot Width
25
Parcel Number
041020105
Total Building Area
1300
Occupant Type
Tenant
Cross Street
Preston St. south between Norman and Beech
MLS® Number
X12563664
Listing Brokerage
EXP REALTY
Basement
Yes
Postal Code
K1S 4N2
Parking Spaces
3
Tax Amount
$924,000.00
Tax Year
2025
Site Influences
Major Highway
Community Features
Major Highway
Standard Status
Active
Board Or Association
Ottawa Real Estate Board
Heat Type
Gas Forced Air Closed
Cooling Features
No
Garage Type
None
Security Features
No