288 Bank Street, Ottawa, photo 1 1 / 11

$294,900

288 Bank Street

Ottawa Centre, Ottawa, ON K2P1X1 · MLS® X13472632

  • 1,500 square feetLiving area

About this property

Rare opportunity to acquire a fully equipped turnkey restaurant in the heart of Centretown at the highly visible intersection of Bank Street and Somerset Street. This established location has operated continuously as a pizza restaurant for approximately 15 years and features approximately 1,500 sq. ft. of main floor restaurant space with seating for 30 guests, plus an additional 1,100 sq. ft. basement offering future expansion potential for private events, catering operations, storage, or additional revenue-generating uses. The premises have benefited from extensive capital investment and feature a fully equipped turnkey restaurant operation with modern kitchen infrastructure, refrigeration systems, food preparation stations, digital ordering technology and quality leasehold improvements throughout. The estimated replacement value of the equipment, improvements and build-out is significant, presenting an opportunity for a purchaser to acquire an established operation without the substantial capital expenditure, permitting delays and construction timelines typically associated with developing a comparable restaurant from scratch. The business also benefits from a highly favourable gross lease structure, providing predictable occupancy costs with property taxes, common area maintenance, snow removal, building insurance and other operating costs included in the rent, a significant advantage. Prime Bank Street exposure benefits from exceptional pedestrian and vehicle traffic in one of Ottawa's busiest commercial corridors. Ideal opportunity for an owner-operator seeking an established location with existing infrastructure and future growth potential. (id:65933)

Type
Business
Category
Business
Updated
Jun 23, 2026

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Estimate only, not financial advice. Rent is reduced by vacancy, then management is taken on the rent collected; net operating income = that, less property tax and other costs; cap rate = net operating income ÷ price; cash flow also subtracts the mortgage (semi-annual compounding, as Canadian mortgages use). Vacancy default: CMHC Rental Market Report, Ottawa, October 2025. Property tax assumed at 1% of price.

Listed by Right At Home Realty.

Listing data provided by REALTOR.ca DDF® and owned by The Canadian Real Estate Association (CREA). Deemed reliable but not guaranteed.

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