$1,600,000

About this home

SHOVEL-READY Apartment Building, an exceptional DEVELOPMENT OPPORTUNITY at the CORNER of Bank St& Florence St. It comes with an APPROVED BUILDING PERMIT for a 6-storey mixed-use building, offering immense potential for an astute developer or investor. This property boasts unparalleled visibility and access in the HEART of OTTAWA, PUBLIC TRANSIT, Retail, Schools, Diverse dining options, Cultural attractions, and Community Amenities, ensuring strong TENANT DEMAND. The approved permits allow for a thoughtfully designed 6-storey building featuring ground-floor commercial space and 28 residential units above. The innovative design strategy FORCUSES on MAXIMIZING rental potential with 7 well-appointed 1-bedroom units and 21 efficiently designed bachelor units (resembling a 1-bedroom-like layout). This strategic unit mix targets a highly competitive segment of the rental market, where smaller, doorstep transit, and smartly designed units are in high demand and typically easier to rent. This approach sets your development apart from the standard 1-bed and 2-bed offerings, a distinct advantage. These crucial studies and designs represent a significant DE-RISKING for the buyer, providing a clear path forward and SAVING YEARS of valuable time and effort. While the existing approved designs offer a streamlined development path, a buyer who prefers to revise elements can still leverage the extensive pre-development work. READY TO BUILD: Significant Savings & Speed to Market! (id:65958)

Subtype

Vacant Land

Community

4103 - Ottawa Centre

Living area

3,262 square feet

Lot dimensions

54.56 x 59.28 FT

On market

Apr 4, 2026

Status changed

Apr 24, 2026

Annual tax

$31,250

Zoning

TM[2472] H21

Photos

3

MLS#

X12957606

Area

OTTAWA

Mortgage estimate