424 Preston Street Ottawa, Ontario K1S 4N2

$75,000

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 $75,000. 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. See Sub Lease Listing MLS# X12474426. (id:43934)

Business

Business Type	Restaurant
Business Sub Type	Restaurant/pub

Property Details

MLS® Number	X12563664
Property Type	Business
Neigbourhood	Centretown West
Community Name	4502 - West Centre Town
Amenities Near By	Highway
Equipment Type	Water Heater
Parking Space Total	3
Rental Equipment Type	Water Heater

Building

Bathroom Total	2
Appliances	All
Cooling Type	None
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Exterior	1300 Sqft
Size Interior	1,300 Ft2
Utility Water	Municipal Water

Land

Acreage	No
Land Amenities	Highway
Size Depth	100 Ft
Size Frontage	25 Ft
Size Irregular	Bldg=25 X 100 Ft
Size Total Text	Bldg=25 X 100 Ft
Zoning Description	Commercial

https://www.realtor.ca/real-estate/29123285/424-preston-street-ottawa-4502-west-centre-town